Canadian Western Bank ups dividend as profit climbs

Tue Dec 4, 2012 8:51am EST
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Dec 4 (Reuters) - Canadian Western Bank's fourth-quarter profit rose 20 percent, helped by loan growth and gains on securities, and the bank raised its quarterly dividend by 6 percent.

The bank, Canada's seventh-largest by market capitalization, Said Tuesday that it earned C$43.0 million ($43.27 million), or 55 Canadian cents a share, in the fiscal fourth quarter ended Oct. 31. That compared with a profit of C$35.9 million, or 47 Canadian cents a share, in the year-before period.

The Edmonton, Alberta-based bank also said it would raise its quarterly dividend by 1 Canadian cent, or 6 percent, to 17 Canadian cents per share.