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Banking & Finance

October 27, 1994|From Times Staff and Wire Reports

City National Corp. to Reinstate Dividend: The parent of Los Angeles-based City National Bank said its improving profit will allow it to reinstate a quarterly dividend of 5 cents a share. The dividend was suspended in 1991 as the recession took hold and the bank's profit plummeted. The business bank, which last week reported a third-quarter net income of $10.4 million compared to a $3.5 million profit a year earlier, said the new dividend will be payable Nov. 18 to shareholders of record Nov. 8.

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