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Canadian Imperial Bank Raises Quarterly Dividend by 2.4%

Provided by Dow Jones

May 25, 2023 10:07am

By Colin Kellaher

Canadian Imperial Bank of Commerce on Thursday said its board raised the quarterly dividend by 2.4%, to 87 Canadian cents (US$0.64) from C$0.85.

The new payout, equal to C$3.48 a year, represents an annual yield of about 6.25% based on Wednesday's closing price of C$55.64, up from 6.11%.

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 25, 2023 06:07 ET (10:07 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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