Scotiabank hikes dividend as third-quarter profits rise
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.