December 7, 2011 / 2:32 PM / 7 years ago

UPDATE 1-Laurentian Bank Q4 profit falls 12 pct

Dec 7 (Reuters) - Laurentian Bank of Canada reported a 12 percent fall in fourth-quarter profit, hurt mainly by a one-time charge related to an acquisition.

Laurentian, Canada’s No. 7 bank by assets, posted August-October net income of C$28.6 million, or C$1.06 a share, compared with C$32.5 million, or C$1.24 a share, a year earlier.

The bank took a C$8.2 million charge related to its acquisition of MRS Companies in September.

Analysts had expected, on average, a profit of C$1.20 a share, according to Thomson Reuters I/B/E/S.

Revenue fell 1.4 precent to C$187.4 million.

The Montreal-based bank also raised its quarterly dividend by 3 Canadian cents to 45 Canadian cents a share.

Shares of Laurentian closed at C$43.57 on Tuesday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Viraj Nair)

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