CIBC Q2 Profit Tops Estimates; Hikes Dividend - Quick Facts

(RTTNews) - Canadian Imperial Bank of Commerce (CM.TO, CM) reported second-quarter net income to common shareholders of C$895 million compared to C$292 million, last year. Earnings per share was C$2.25, compared to C$0.73. Adjusted net income to shareholders was C$908 million or C$2.28 per share, for the quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of C$2.23 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to C$3.39 billion from C$3.16 billion, prior year. CIBC announced a quarterly dividend increase of 3 cents per common share to C$1.09 per share.