EQB reports lower Q3 adjusted net income, raises dividend

EQB Inc. reported adjusted net income of $80.3 million during the third quarter, marking a 32% decline from the previous year. 

The owner of EQ Bank says its adjusted net interest income came in at $254 million, down 6% from the same period a year earlier. 

EQB says its adjusted revenue came in at $310 million during the quarter, down 5% on an annual basis. 

The Toronto-based firm says its diluted earnings per share came in at $1.90.

EQB also raised its dividend by 17% year-over-year to 55 cents per share. 

Marlene Lenarduzzi, who acted as interim president and CEO during the period, said in a press release that it was a difficult quarter for EQB as it mourned the loss of former CEO Andrew Moor. 

Moor died unexpectedly in June at the age of 65.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.