Canadian Imperial Bank of Commerce (CM) to Issue Quarterly Dividend of $1.33

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) declared a quarterly dividend on Wednesday, May 23rd, RTT News reports. Investors of record on Thursday, June 28th will be paid a dividend of 1.33 per share on Friday, July 27th. This represents a $5.32 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, June 27th.

Shares of TSE CM opened at C$116.83 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of C$103.84 and a 1 year high of C$124.37.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Wednesday, May 23rd. The company reported C$2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.81 by C$0.14. Canadian Imperial Bank of Commerce had a net margin of 31.76% and a return on equity of 18.90%. The company had revenue of C$4.38 billion during the quarter, compared to analysts’ expectations of C$4.25 billion.

CM has been the subject of several recent analyst reports. Scotiabank lifted their target price on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$135.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. National Bank Financial lifted their target price on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$136.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Desjardins lifted their target price on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$134.00 in a report on Friday, February 23rd. Royal Bank of Canada lifted their target price on shares of Canadian Imperial Bank of Commerce from C$138.00 to C$141.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. Finally, Citigroup raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$125.00 to C$130.00 in a report on Wednesday, June 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Canadian Imperial Bank of Commerce currently has a consensus rating of “Buy” and an average target price of C$131.17.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Dividend History for Canadian Imperial Bank of Commerce (TSE:CM)

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