Canadian Imperial Bank of Commerce (NYSE:CM) to Issue Dividend Increase – C$1.07 Per Share

by · The Cerbat Gem

Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) announced a quarterly dividend on Thursday, December 4th. Stockholders of record on Monday, December 29th will be paid a dividend of 1.07 per share by the bank on Wednesday, January 28th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, December 29th. This is a 10.3% increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97.

Canadian Imperial Bank of Commerce has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 14 years. Canadian Imperial Bank of Commerce has a payout ratio of 46.6% 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 $2.82 annual dividend with an expected future payout ratio of 47.2%.

Canadian Imperial Bank of Commerce Trading Up 4.4%

Shares of CM stock traded up $3.78 on Thursday, reaching $90.62. 1,985,809 shares of the company’s stock were exchanged, compared to its average volume of 1,125,846. The company’s fifty day simple moving average is $83.02 and its 200 day simple moving average is $76.35. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $90.78. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $84.16 billion, a PE ratio of 15.31, a P/E/G ratio of 1.21 and a beta of 1.02.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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