OTTAWA (dpa-AFX) - National Bank of Canada (NA.TO) announced a 23% increase to its common share dividend and its intention to launch a share repurchase program. The Bank's Board declared a dividend on common shares of C$0.87 per share for the first quarter of fiscal 2022, an increase of 16 cents or approximately 23% from the previous quarter. The dividend is payable on February 1, 2022 to common shareholders of record on December 27, 2021.
The Bank also announced that its Board of Directors has authorized a normal course issuer bid to purchase for cancellation up to 7 million common shares, representing approximately 2% of the Bank's issued and outstanding common shares.
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