CIBC Q1 Results Up, Top Estimates; Declares Dividend - Quick Facts

(RTTNews) - Canadian Imperial Bank of Commerce (CM.TO, CM) on Thursday posted first-quarter net income of C$1.63 billion or C$3.55 per share, up 34 percent from C$1.21 billion or C$2.63 per share in the same period last year.

Adjusted net income came in at C$1.64 billion or C$3.58 per share, compared to C$1.48 billion or C$3.24 per share in the year-ago quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of C$2.81 per share in the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues rose to C$4.96 billion from C$4.86 billion in the corresponding quarter last year.

Analysts estimated the company to report revenues of C$4.75 billion in the quarter.

The company also announced that its Board of Directors has declared a quarterly dividend of C$1.46 per share, payable on April 28, to shareholders of record at the close of business on March 29.