CIBC Q3 Profit Tops Estimates; Increases Dividends - Quick Facts

(RTTNews) - Canadian Imperial Bank of Commerce (CM.TO) reported third-quarter adjusted EPS of C$2.77, compared to C$2.67, a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of C$2.66, for the quarter. Analysts' estimates typically exclude special items. Adjusted net income was C$1.17 billion, compared to C$1.07 billion, last year.

"Our strong results this quarter reflect solid contributions from our strategic business units, as well as our acquisition of The PrivateBank, which closed in June," said Victor Dodig, CIBC CEO.

CIBC also announced a quarterly dividend increase of 3 cents per common share to C$1.30 per share. The dividend is payable on October 27, 2017 to shareholders of record at the close of business on September 28, 2017.