Tuesday, September 1, 2015

Canadian Imperial Bank of Commerce - CM.t

Canadian Imperial Bank of Commerce - CM.t is one of Canada's chartered banks, fifth largest by deposits.

Operating as CIBC World Markets and CIBC Retail Markets, the bank has international operations in the United States, the Caribbean, Asia and the United Kingdom. Globally, CIBC serves more than eleven million clients, and has over 40,000 employees.





On August 27, 2015 the company reported Numbers

"CIBC (TSX: CM; NYSE: CM) announced today that its board of directors declared a dividend of $1.12 per share on common shares for the quarter ending October 31, 2015, an increase of three cents from the previous quarter. This dividend is payable on October 28, 2015 to shareholders of record at the close of business on September 28, 2015.

CIBC (TSX: CM) (NYSE: CM) today announced its financial results for the third quarter ended July 31, 2015.

Third quarter highlights
• Reported net income was $978 million, compared with $921 million for the third quarter a year ago, and $911 million for the prior quarter.
• Adjusted net income(1) was $990 million, compared with $908 million for the third quarter a year ago, and $924 million for the prior quarter.
• Reported diluted earnings per share (EPS) was $2.42, compared with $2.26 for the third quarter a year ago, and $2.25 for the prior quarter.
• Adjusted diluted EPS(1) was $2.45, compared with $2.23 for the third quarter a year ago, and $2.28 for the prior quarter.
• Reported return on common shareholders' equity (ROE) was 20.4% and adjusted ROE(1) was 20.6%.

"Our strong performance this quarter was supported by excellent results in Retail and Business Banking, Wealth Management and Wholesale Banking," says Victor G. Dodig, CIBC President and Chief Executive Officer. "We continue to build a strong, innovative relationship-oriented bank with industry leading ROE and capital strength to deliver sustainable shareholder value."

Results for the third quarter of 2015 were affected by the following items of note aggregating to a negative impact of $0.03 per share: • $10 million ($7 million after-tax) amortization of intangible assets; and
• $6 million ($5 million after-tax) loss from the structured credit run-off business.

CIBC's Basel III Common Equity Tier 1 ratio at July 31, 2015 was 10.8%, and our Tier 1 and Total capital ratios were 12.5% and 15.0%, respectively, on an all-in basis compared with Basel III Common Equity Tier 1 ratio of 10.8%, Tier 1 capital ratio of 12.6% and Total capital ratio of 15.3% in the prior quarter. At the end of this quarter, CIBC's Basel III Leverage ratio was 3.9% on an all-in basis.

CIBC announced a quarterly dividend increase of 3 cents per common share to $1.12 per share. In addition, we announced our intention to seek Toronto Stock Exchange approval for a normal course issuer bid that would permit us to purchase for cancellation up to a maximum of 8 million, or approximately 2% of our outstanding common shares, over the next 12 months.









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