CIBC raised its dividend to C$1.61 from C$1.46, and said it would buy back up to 10 million shares, about 2.2% of outstanding common stock.
Will CIBC increase its dividend?
CIBC said the increased dividend is payable Jan. 28, 2022, to shareholders of record Dec. 31.
Will Canadian banks raise dividends?
All of Canada’s six largest banks this week announced dividend increases and plans to buy back shares.
In this article.
|Bank||Canadian Imperial Bank of Commerce|
|Dividend % Increase||10%|
|Buyback as % of Shares||2.2%|
|Buyback cost (as of announcement)||C$1.4 billion|
How much did Canadian banks raise dividends?
Royal Bank, Canada’s biggest lender, increased its quarterly dividend by 11% to C$1.20 a share and National Bank said it would raise its dividend by 23% to 87 Canadian cents, the first increases since the country’s financial regulator imposed restrictions on capital distributions in March 2020.
What is CIBC dividend percentage?
Canadian Imperial Bank of Commerce Dividend Yield: 3.74% for March 2, 2022.
What is the next ex dividend date for CIBC?
On February 25, 2022, CIBC’s Board of Directors declared a dividend of $1.61 per share on common shares for the quarter ending April 30, 2022, payable on April 28, 2022, to shareholders of record at the close of business on March 28, 2022.
Will Canadian bank stocks go up in 2022?
Fiera’s forecast says the Bank of Canada will increase interest rates four times in 2022 by 0.25 of a point, which will weigh heavily on bonds. Preferred shares weather rising rates better because of the sector’s heavy concentration in rate-reset shares.
Which is the best Canadian bank stock to buy?
Top Canadian bank stocks: Royal Bank of Canada
With a market cap of more than $200 billion, Royal Bank of Canada (TSX:RY)(NYSE:RY) is the biggest bank in Canada, and once again the top stock on the TSX. From a revenue and earnings perspective, this has remained the case for some time.
What is the best Canadian dividend stock?
Canadian Dividend Stocks to Buy
- Bank of Montreal (NYSE:BMO) Number of Hedge Fund Holders: 12. Dividend Yield: 3.5% …
- Canadian Imperial Bank of Commerce (NYSE:CM) Number of Hedge Fund Holders: 13. …
- The Bank of Nova Scotia (NYSE:BNS) Number of Hedge Fund Holders: 17. …
- Great-West Lifeco Inc. (TSE:GWO) …
- BCE Inc. (NYSE:BCE)
Is CIBC a good dividend?
CIBC stock has a lot of dividend potential. With a 5.37% yield, it has the most immediate income potential of any Canadian bank. Its 60-70% payout ratio is not dangerously high, so dividend income from the stock should be fairly safe.
How long has CIBC been paying a dividend?
CIBC hasn’t missed a regular dividend since its first dividend payment in 1868.
Is CIBC a good stock to buy?
Through the first 9 months of 2021, it’s actually been the best performing Canadian bank stock in terms of total return, with gains of just under 37% at the time of writing. In terms of valuation, CIBC remains one of the cheaper banks but is trading well above historical averages.