The National Bank of Canada isn't following the dividend-increasing example of the country's other five big banks, even though the Quebec-based bank's profits grew by 13 per cent in the third quarter to $379 million.

The country's sixth-largest bank, which raised the quarterly payout three months ago, kept it steady at 79 cents per share, it said after markets closed Thursday. Its payout ratio was 33 per cent in the quarter, 39 per cent excluding one-time items.

National Bank 3-month trading chartNational Bank 3-month trading chart

Canada's five largest banks all increased their dividends over the past couple of days after earning $7.8 billion in cumulative profits.

Montreal-based National Bank said net income attributable to shareholders increased to $360 million from $318 million. Its earnings equalled $2.14 per diluted share, up 14 per cent from $1.87 in the prior year.

Adjusting for one-time items it earned $353 million, or $1.98 per diluted share, up from $334 million, or $1.86 per diluted share, in the prior year. The amount attributable to shareholders grew to $334 million from $316 million in the third quarter of 2011.

Revenues grew 11 per cent to $1.2 billion.

Earnings top forecasts

The bank's adjusted earnings per share beat analysts forecasts of $1.90 per share by eight cents. Revenues were mostly in line with forecasts for $1.25 billion, according to analysts polled by Thomson Reuters.

Return on equity was 21.3 per cent, or 19.9 per cent on an adjusted basis.

"For the third quarter of 2012, our three business segments delivered good earnings growth," said president and CEO Louis Vachon.

He said the personal and commercial segment lending remained strong and the wealth management segment progressed well following the integration of recent acquisitions.

National's focus on Canadian capital markets and client-driven activities continued to yield results for its financial markets segment.

"In the coming quarters, we plan on maintaining tight cost control as we navigate a volatile economic environment while still enhancing our infrastructures to better serve clients," he added.