Skip to main content

The Canadian Western Bank logo is displayed outside a branch in Richmond, B.C., on Monday, Aug. 28 2017.

Ben Nelms

CWB Financial Group raised its dividend as it reported its third-quarter profit grew 10 per cent compared with a year ago.

The company behind Canadian Western Bank increased its quarterly payment to shareholders by a penny to 26 cents a share.

The higher dividend came as CWB reported a profit of $66.2-million or 70 cents for each diluted share for the quarter ended July 31.

Story continues below advertisement

That compared with a profit of $60.2-million or 64 cents for each diluted share in the same quarter last year.

CWB says its adjusted cash earnings per share amounted to 75 cents a share, up from 69 cents a share a year ago.

Analysts on average had expected a profit of 77 cents a share, according to Thomson Reuters Eikon.

CWB chief executive Chris Fowler said the bank is well positioned for a strong finish this year.

“Strong performance is apparent across our geographic footprint, with significant contributions from our growing presence in the Ontario market and expanded capabilities within targeted industries,” Mr. Fowler said in a statement.

The Canadian Press

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter