Laurentian Bank reports $32 million second quarter profit
MONTREAL - Laurentian Bank of Canada says it had a net income of $32.3 million in the second quarter compared with a net loss of $117.5 million in the same quarter last year.
The Montreal-based bank says earnings worked out to 69 cents per share for the quarter ending April 30, compared with a lost of $2.71 a share last year.
Laurentian says total revenue for the quarter was $242.5 million, down from $252.6 million last year.
Chief executive Éric Provost says the bank is satisfied with progress so far as it marks a year into its strategic plan, but that there's still more work to do.
The bank says its adjusted net income came to $34 million, or 73 cents per share, down from $40.5 million, or 90 cents per share in the same quarter last year.
The bank's provisions for credit loss totalled $16.7 million in the quarter, down from $17.9 million in the same quarter last year.
This report by The Canadian Press was first published May 30, 2025.
Companies in this story: (TSX:LB)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
2 hours ago
- Business Insider
Walmart (WMT) Pays $10 Million Fine to Settle Lawsuit over Money Transfer Fraud
Walmart (WMT) has agreed to pay a $10 million fine to settle a U.S. Federal Trade Commission civil lawsuit accusing the world's largest retailer of ignoring warning signs that scam artists leveraged its money transfer service to bilk consumers out of hundreds of millions of dollars. Confident Investing Starts Here: Walmart has also agreed not to process money transfers it suspects are fraudulent, or help sellers and telemarketers it believes are using its services to commit fraud. 'Electronic money transfers are one of the most common ways that scammers tell consumers to send them money, because once it's sent, it's gone for good,' said Christopher Mufarrige, director of the FTC Consumer Protection Bureau. Bentonville, Arkansas-based Walmart did not admit or deny wrongdoing in settling the case. In its complaint, the FTC accused Walmart of turning a blind eye to fraudsters who used its money transfer service to target consumers. Walmart acts as an agent for money transfers by companies such as MoneyGram and Western Union (WU). Tricksters The FTC said fraudsters used many schemes via Walmart, including impersonating Internal Revenue Service (IRS) agents, impersonating family members, and telling victims they won lotteries or sweepstakes but owed fees to collect their winnings. The judge dismissed part of the FTC's legal claim last year but let the regulator pursue most of its case. Walmart appealed that decision. The $10 million settlement effectively ends Walmart's appeal. WMT stock is up 6% this year. Is WMT Stock a Buy? average WMT price target of $109.71 implies 14.14% upside from current levels.
Hamilton Spectator
2 hours ago
- Hamilton Spectator
High Arctic Announces Annual General and Special Meeting Results
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, June 20, 2025 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) (the 'Corporation' or 'High Arctic') is pleased to announce the results of the annual general and special meeting of the shareholders of High Arctic held on June 19, 2025 (the 'Meeting'). 32 shareholders holding a total of 8,570,252 common shares of the Corporation were represented at the Meeting in person or proxy, representing approximately 67.50% of the total votes attached to all issued and outstanding common shares of the Corporation as of the record date on May 12, 2025. All matters put forth at the Meeting were approved. In respect of the election of directors, the shareholders approved fixing the number of directors at four with each nominee named in the Corporation's management information circular dated May 26, 2025 being considered for election as directors. The detailed results of the vote for the election of directors, which was conducted by ballot, are set out below: At the Meeting, the shareholders also approved a resolution appointing MNP LLP, Chartered Professional Accountants, as auditors of the Corporation and a resolution approving a new omnibus equity incentive plan of the Corporation, to replace the existing stock option plan, performance share unit plan, and deferred share unit plan. About High Arctic Energy Services High Arctic is an energy services provider. High Arctic provides pressure control equipment and equipment supporting the high-pressure stimulation of oil and gas wells and other oilfield equipment on a rental basis to exploration and production companies, from its bases in Whitecourt and Red Deer, Alberta. For further information contact: Lonn Bate Chief Financial Officer P: 587-318-2218 P: +1 (800) 688 7143 High Arctic Energy Services Inc. Suite 2350, 330 – 5th Ave SW Calgary, Alberta, Canada T2P 0L4 website: Email: info@
Yahoo
3 hours ago
- Yahoo
Building a $28,000 TFSA Portfolio One Contribution at a Time
Written by Adam Othman at The Motley Fool Canada Ever since central banks in the US and Canada started cutting key interest rates, economic activity has picked up pace in both countries. While the rate cuts are currently paused amid trade and geopolitical tensions, analysts predict two more rate cuts of 25 basis points as inflation and tariff-related headwinds ease. Lower interest rates also mean you cannot generate too much interest income from cash held in high-interest savings accounts. If you have $28,000 of contribution room available in a Tax-Free Savings Account (TFSA), I can tell you a much better way of generating good monthly returns. The TSX has no shortage of monthly dividend-paying stocks. Building a portfolio of high-quality TSX stocks paying monthly distributions to shareholders can be a great way to generate extra monthly income. Here's a table giving you a quick look at how a hypothetical amount of around $28,000 across three such TSX stocks can deliver $144 in monthly dividends in a TFSA without incurring taxes. After that, you can read a bit about each. Ticker Recent Price Number of Shares Amount Invested Monthly Dividends Per Share Total Monthly Payout Per Stock PZA $14.91 625 $9,318.75 $0.0775 $48.44 SIA $18.52 503 $9,315.56 $0.078 $39.23 $25.37 368 $9,336.16 $0.1542 $56.75 Total Monthly Payout $144.42 Pizza Pizza Royalty Corp. (TSX:PZA) is a $497.3 million market-cap company that owns and franchises quick-service restaurants under several brands, boasting almost 800 restaurants from one coast to the other. The monthly dividend-paying stock generates revenue by collecting royalties from its franchisees based on how much they sell, making its cash flows less vulnerable to wage increases or commodity price fluctuations, which weigh on many businesses in the industry. The brands under the company's banner consistently keep adding value to end consumers by updating menus and using creative brand messaging. The company is also planning to continue to increase its locations. I believe this stock can be a good investment for earning relatively safe monthly dividends. Sienna Senior Living Inc. (TSX:SIA) is a $1.7 billion market-cap giant in the senior living space. It is among the largest owners of senior housing facilities in Ontario, servicing the aging population. Occupancy rates are getting higher and higher, and it generates revenue from several business segments catering to different markets within Canada. As long as the growth in the senior population continues, so will the demand for the services that SIA stock offers. The company ended the first quarter of fiscal 2025 with $445 million in liquidity, indicating that it has more than enough capital to fund monthly dividends and acquire more facilities under its banner. It can be another solid investment to consider for monthly dividends. SmartCentres REIT (TSX: is a Real Estate Investment Trust (REIT) that can help you earn monthly income like a lazy landlord. If you have the cash outlay for stock market investing, you have the ability to invest in the real estate sector, all without the hassle of being an actual landlord. has a portfolio of almost 200 properties in key locations across the country, with over 95% of its tenants having a regional or national presence. Most of its revenue comes from commercial tenants offering essential services, giving it solid cash-generating opportunities. Boasting an impressive 98.4% occupancy rate, it can be a solid investment. I feel that you should take any opportunity you can to make more money, and the TFSA gives you the perfect chance to do that. The tax-sheltered nature of the account means you can enjoy the returns from your investments in the account without incurring taxes. The table at the start paints a picture of what the monthly income might look like with a hypothetical $28,000 across three monthly dividend stocks. Add capital gains in the long term into the mix and your total returns over a few years can be much higher. The post Building a $28,000 TFSA Portfolio One Contribution at a Time appeared first on The Motley Fool Canada. More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool recommends SmartCentres Real Estate Investment Trust. The Motley Fool has a disclosure policy. 2025
