Bank of Nova Scotia (BNS, BNS.TO) announced a 3.12% increase in its cash dividend. The quarterly cash dividend will increase from $0.64 to $0.66 per share and payable on Oct 29, 2014 to shareholders on record as of Oct 7, 2014. This is the second dividend increase in 2014 and the dividend increase YTD is 6.45%.In the release of the third quarter results today, the bank reported the following figures (compared to Q3 2013).
- Net income of $2,351 million, up 35% from $1,747 million
- Earnings per share (diluted) of $1.85 compared to $1.36, up 36%
- Earnings include $555 million or 45 cents per share related to the sale of a majority of the bank’s investment in CI Financial Corp. (“the notable gain”)
- ROE of 20.6%, compared to 17.2%
- Productivity ratio of 47.8%, versus 51.6%
- Quarterly dividend of 66 cents per common share