MONTREAL — National Bank reported a rise in its fourth-quarter profit and raised its dividend as it looks to a transformational year ahead with the likely closing of its acquisition of Canadian Western Bank.
"Our proposed acquisition of Canadian Western Bank will be a key pillar in our domestic growth in 2025," chief executive Laurent Ferreira told a conference call to discuss the company's latest results.
"We look forward to bringing together two strong teams and highly complementary platforms to accelerate our growth," Ferreira said. The Montreal-based bank also said Wednesday it will now pay a quarterly dividend of $1.14 per share, up from $1.10 per share. The bank came in ahead of expectations in part from a lower tax rate and despite provisions being slightly higher than expected, Jefferies analyst John Aiken wrote in a note.
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