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National Bank sets 2-for-1 stock split, raises dividend

National Bank of Canada (NA-T), the country's sixth-largest lender, announced a 2-for-1 stock split and raised its dividend after reporting a 4 percent fall in fourth-quarter profit.

The bank raised its quarterly dividend to 92 cents per share from 87 cents.

The split will be made through a stock dividend of one share for each share held, the bank said on Wednesday.

Net income fell to $337 million, or $1.89 per share, in the quarter ended October 31, from $351 million, or $1.97 per share, a year earlier.

Excluding items, the Montreal-based bank earned $2.09 per share, in line with the average analyst expectation, according to Thomson Reuters I/B/E/S. CTV Two CTV News CTV News Channel BNN - Business News Network CP24