People’s United Financial, Inc. (PBCT: Quote) Thursday said its fourth-quarter net income was $61.2 million or $0.18 per share, up from $41.4 million or $0.12 per share in the same period last year.
Operating income for the quarter rose to $63.2 million or $0.19 per share from $57.1 million or $0.17 per share in the year-ago period. On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.19 per share for the quarter. Analysts’ estimates typically exclude special items.
Net-interest income declined to $225.1 million from $239.6 million in the prior year quarter, while non-interest income grew to $84.3 million, from $71.7 million in the comparable quarter last year.
Further, the company said its Board declared a quarterly dividend of $0.16 per share, payable on February 15, 2013 to shareholders of record on February 1, 2013.
In addition, during the latest fourth quarter Company in a statement said it repurchased 4.7 million common shares for a total purchase price of $56 million.
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by RTT Staff Writer
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