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Company: Laurentian Bank of Canada

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FINTRAC review uncovered compliance violation, imposed $487K penalty on Laurentian Bank

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Laurentian Bank of Canada reported first-quarter revenue of $257.5 million

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At the same time, the bank raised its dividend 10%

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The bank reported third-quarter profit of $36.2 million


The company also cut its dividend to gain more flexibility for the business

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CSA issues guidance for taking annual meetings online

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Analysts had expected a higher adjusted profit per share

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The higher payment to shareholders came as Laurentian reported a fourth-quarter profit of $41.3 million

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Figure is down from $54.9M a year ago

The bank is ``streamlining certain back-office functions'' related to its retail services operations