Canadian Imperial Bank of Commerce (CM) to Issue Quarterly Dividend of C$1.07 on April 28th

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Wednesday, February 25th. Shareholders of record on Friday, March 27th will be paid a dividend of 1.07 per share by the bank on Tuesday, April 28th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, March 27th.

Canadian Imperial Bank of Commerce has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Canadian Imperial Bank of Commerce has a payout ratio of 51.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Canadian Imperial Bank of Commerce to earn $5.98 per share next year, which means the company should continue to be able to cover its $3.13 annual dividend with an expected future payout ratio of 52.3%.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $96.64 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $105.00. The firm has a market cap of $89.33 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00. The firm’s fifty day moving average is $96.34 and its 200-day moving average is $89.23.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.Canadian Imperial Bank of Commerce’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.