Laurentian Bank's Dividend Payment Raises Concerns About Sustainability

Laurentian Bank of Canada (LRCDF) has announced an upcoming dividend payment of $0.34 per share, payable on October 30 with an ex-dividend date of October 1.

This marks the bank's 23rd year of consistent dividend payments since 2003, with a current quarterly distribution schedule providing shareholders with regular income throughout the year.

The bank's 12-month trailing dividend yield is 4.70%, while its forward yield stands at 4.72%, suggesting an expectation of increased dividend payments over the next 12 months.

However, the bank's payout ratio of 1.04 indicates that it pays out more in dividends than it earns, raising questions about the sustainability of the dividend.