The big five Canadian Banks have now all reported their second quarter earnings. Many times within these releases the numbers will always focus on the banks results versus analysts' expectations. The majority of these banks beat expectations.
Below is how the the banks fared versus last year's Q2, on an earnings per share, excluding extraordinary items basis. This is a measure of how their continuing operations are holding up amid this recession:
Bank of Montreal (BMO) = Down 25% from last year
Canadian Imperial Bank of Commerce (CIBC) = Down 12% from last year
Toronto Dominion Bank (TD) = Down 7% from last year
Bank of Nova Scotia (BNS) = Down 16% from last year
Royal Bank of Canada (RY) = Down 10% from last year
All dividends were maintained, and none were raised.
1 comment:
I read up on this today, too... I'm wondering whether we'll see any div. increases later this year. Seems possible with TD or BNS.
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