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Canadian Imperial Bank Raises Quarterly Dividend by 3.1%

By Colin Kellaher

 

Canadian Imperial Bank of Commerce on Thursday said it raised its quarterly dividend by 3.1%, to C$0.83 (US$0.65) from C$0.805.

The new payout, equal to C$3.32 a year, represents an annual yield of about 4.74% based on Wednesday's closing price of C$70.10, up from 4.59%.

The Toronto banking and wealth-management giant said the increased dividend is payable July 28 to shareholders of record June 28.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

May 26, 2022 06:10 ET (10:10 GMT)

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