David M. Findlay, Chairman and CEO, expressed confidence in the bank's future and attributed the dividend increase to the bank's consistently strong operating performance and strong capital base.
An uptick of 4.9% may hint at positive future performance. The market may have been overly optimistic last year, yet long-term shareholders earned a 4% annual profit over five years. If fundamentals point to long-term growth, the current sell-off may be an opportunity.
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