CIBC reported its fourth-quarter profit rose compared with a year ago and raised its dividend.
The bank says it will now pay a quarterly dividend of 90 cents per share, up from 87 cents per share.
The increased payment to shareholders came as CIBC said it earned $1.48 billion or $1.53 per diluted share for the quarter ended Oct. 31 compared with a profit of nearly $1.19 billion or $1.26 per diluted share a year earlier.
Revenue totalled $5.84 billion for the quarter, up from nearly $5.39 billion a year earlier, while the bank's provision for credit losses amounted to $541 million, up from $436 million in the same quarter last year.
On an adjusted basis, CIBC said it earned $1.57 per diluted share in its latest quarter, up from an adjusted profit of $1.39 per diluted share a year earlier.
Analysts on average had expected an adjusted profit of $1.53 per share, based on estimates compiled by financial markets data firm Refinitiv.