07:57 AM EDT, 05/31/2024 (MT Newswires) -- Canadian Western Bank ( CWESF ) on Friday reported higher profit and revenue for the fiscal second quarter, but the results missed estimates.

The bank reported fiscal second-quarter adjusted common shareholders' net income of $78.2 million, or $0.81 per share, up 9% from $71.7 million, or $0.74 per share, a year earlier. Analysts surveyed by Capital IQ expected $0.86.

Revenue for the quarter ended April 30 rose 8% to $285.9 million from $264.4 million a year earlier. Analysts polled by Capital IQ expected $289.5 million.

The bank reported pre-tax, pre-provision income of $136.5 million, up from $118.2 million a year earlier.

Adjusted return on common shareholders' equity for the quarter was 8.9%, in line with the year-ago quarter. The common equity Tier 1 ratio for fiscal Q2 was 10.1%, up from 9.3% a year ago.

The board set a quarterly cash dividend of $0.35 per common share, up 6% from last year's dividend 3% from last quarter's. The dividend is payable on June 20 to shareholders of record on June 6.