CIBC hikes dividend as profit grows to $982 million


The Canadian razzi Posted: Feb 25, 2016 6:42 AM ET Last Updated: Feb 25, 2016 10:18 AM ET

CIBC says its first-quarter profit planted six per cent to $982 million as earnings from its retail and business banking fraction grew.

That com res with $923 million during the unvaried quarter last year.

The earnings amounted to $2.43 per diluted portion, up from $2.28 a year ago.

After adjustments, the bank earned $1.03 billion, or $2.55 per appropriate, up from $956 million, or $2.36 per share, during the first fifteen minutes of last year.

The bank also announced it was raising its quarterly dividend by three cents per due to $1.18 per share.

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