Sco­tia­bank hikes div­i­dend as third-quar­ter prof­its rise

The Peterborough Examiner - - Business -

TORONTO — The Bank of Nova Sco­tia raised its div­i­dend as its third-quar­ter earn­ings beat ex­pec­ta­tions, with growth in in­ter­na­tional bank­ing off­set by ac­qui­si­tion and di­vesti­ture-re­lated costs and lower prof­its in global bank­ing and mar­kets. The Toronto-based lender says it will raise its quar­terly pay­ment to share­hold­ers by three cents to 90 cents per share. The hike came as Sco­tia­bank re­ported net in­come for the quar­ter ended July 31 of $1.98 bil­lion or $1.50 per di­luted share, com­pared with $1.94 bil­lion or $1.55 a year prior. Sco­tia­bank chief ex­ec­u­tive Brian Porter says “mean­ing­ful progress” was made to re­po­si­tion the bank and sim­plify its op­er­a­tions, such as the di­vesti­ture of its op­er­a­tions in Puerto Rico and U.S. Vir­gin Is­lands.

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