FINTRAC review uncovered compliance violation, imposed $487K penalty on Laurentian Bank
Laurentian Bank of Canada reported first-quarter revenue of $257.5 million
At the same time, the bank raised its dividend 10%
The bank reported third-quarter profit of $36.2 million
The company also cut its dividend to gain more flexibility for the business
CSA issues guidance for taking annual meetings online
Analysts had expected a higher adjusted profit per share
The higher payment to shareholders came as Laurentian reported a fourth-quarter profit of $41.3 million
Figure is down from $54.9M a year ago
The bank is ``streamlining certain back-office functions'' related to its retail services operations