December 7, 2010 / 2:11 PM / 8 years ago

UPDATE 1-Canadian Western Bank profit rises, ups dividend

* Q4 cash EPS C$0.49 vs est C$.047

* Revenue rises 24 pct to C$111.6 mln

* Raises quarterly dividend by 18 pct to C$0.13/shr

TORONTO, Dec 7 (Reuters) - Canadian Western Bank (CWB.TO) said on Tuesday its fourth-quarter profit rose 29 percent on loan growth and wider interest margins, and the bank raised its quarterly dividend by 18 percent.

The regional lender earned C$39.1 million ($39.1 million), or 48 Canadian cents a share, in the quarter ended Oct. 31. That compared with a year-before profit of C$30.4 million, or 39 Canadian cents a share.

On a cash basis, profit was 49 Canadian cents a share.

Analysts polled by Thomson Reuters I/B/E/S had expected, on average, a profit of 47 Canadian cents a share.

Revenue rose 24 percent to C$111.6 million as loans grew by 14 percent, while net interest margins widened by 0.5 percentage point, the Edmonton, Alberta-based bank said.

CWB raised its dividend to 13 Canadian cents a share from 11 Canadian cents per share, becoming the second Canadian bank to do so this quarter, following National Bank of Canada (NA.TO) last week. ($1=$1.00 Canadian) (Reporting by Cameron French; Editing by Derek Caney)

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