National Bank of Canada, the country’s sixth-largest lender, said quarterly profit fell 4 percent on costs tied to acquisitions and severance. The firm raised its dividend 5.7 percent to 92 cents a share and announced a two-for-one stock split.
Detour Gold Corp., the operator of the Detour Lake mine in Ontario, slumped the most in more than six years after saying Gerald Panneton resigned as chief executive officer as it faces “near-term challenges.”
BlackBerry Ltd.’s withering smartphone business means potential acquirers will pick over its more alluring assets, including software and patents, which together may be worth about $5 billion, roughly in line with the company’s current market value.
AGF Management Ltd. Chief Executive Officer Blake Goldring said Canada’s third-largest independent investment manager by market value plans to reverse a 35 percent plunge in assets by doubling business from institutional clients and introducing new products.
Trinidad Drilling Ltd., the builder of Western Canada’s biggest energy drilling rig, is forecast to rally another 21 percent as producers spend C$55 billion ($52 billion) on developing natural gas to ship to Asia.
BlackBerry Ltd., the smartphone maker seeking to sell itself, will record costs of about $400 million, four times the amount it originally projected, as the company cuts staff by 40 percent and sells equipment and real estate.
Sierra Wireless Inc., the communications-equipment maker that connects cars and coffee machines to the Internet, is looking for acquisitions to do the same for air compressors and other industrial machines.