TORONTO, Feb. 28,
2023 /CNW/ - Scotiabank today
announced a dividend on the outstanding shares of the Bank, payable
April 26, 2023 to shareholders of
record at the close of business on April 4, 2023:
Common Shares
- Dividend No. 615 of $1.03
per share;
Non-Cumulative Preferred Shares
- Series 40, Dividend No. 18 of $0.303125 per share.
Holders may elect to receive their dividends in common
shares of the Bank in lieu of cash dividends, in accordance with
the Bank's Shareholder Dividend and Share Purchase Plan (the
"Plan"). Under the Plan, the Bank determines whether the additional
common shares will be purchased on the open market or issued by the
Bank from treasury. At this time, and until such time as the Bank
elects otherwise, for the purposes of dividend reinvestments, stock
dividends and optional share purchase under the Plan, the Bank will
(i) issue Common Shares (as defined in the Plan) from treasury,
with a 2% discount to the Average Market Price (as defined in the
Plan), and (ii) discontinue the purchase of Common Shares in the
secondary market. Such shares will be allotted for issuance by
Computershare Trust Company of Canada, as agent under the Plan, for the
account of participants in the Plan, in an amount determined in
accordance with the provisions of the Plan. This change will be
effective beginning with the dividend declared today and
payable on April 26, 2023 to
shareholders of record at the close of business on
April 4, 2023.
This change will be effective for optional share purchases
made under the Plan on or after April 4,
2023.
About
Scotiabank
Scotiabank is a leading bank in the Americas. Guided by
our purpose: "for every future", we help our customers, their
families and their communities achieve success through a broad
range of advice, products and services, including personal and
commercial banking, wealth management and private banking,
corporate and investment banking, and capital markets. With a team
of over 90,000 employees and assets of over $1.3 trillion (as at January 31, 2023), Scotiabank trades on the
Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange
(NYSE: BNS). For more information, please visit
http://www.scotiabank.com and follow us on Twitter
@Scotiabank.
SOURCE Scotiabank