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Canadian Imperial Bank Raises Quarterly Dividend by 3.4%

Provided by Dow Jones

Nov 30, 2023 11:09am

By Colin Kellaher

Canadian Imperial Bank of Commerce's board has raised the quarterly dividend by 3.4%, to 90 Canadian cents (US$0.66) from C$0.87.

The new payout, equal to C$3.60 a year, represents an annual yield of about 6.75% based on Wednesday's closing price of C$53.36, up from 6.52%.

The Toronto banking and wealth-management giant said the increased dividend is payable Jan. 29 to shareholders of record Dec. 28.

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

(END) Dow Jones Newswires

November 30, 2023 06:09 ET (11:09 GMT)

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

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