TORONTO, Aug. 27,
2024 /CNW/ - Scotiabank today announced a
dividend on the outstanding shares of the Bank, payable
October 29, 2024, to shareholders of
record at the close of business on October 2, 2024:
Common Shares
- Dividend No. 621 of $1.06 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 October
31, 2024, for the purposes of dividend reinvestments and
stock dividends under the Plan, the Bank will continue to issue
Common Shares (as defined in the Plan) from treasury, with a 2%
discount to the Average Market Price (as defined in the Plan). For
optional share purchases made under the Plan, the Bank will issue
common shares from treasury at 100% of the Average Market Price (as
defined in the Plan) until October 31,
2024. 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.
Effective November 1, 2024, and
until such time as the Bank elects otherwise, the Bank will suspend
the discount to the Average Market Price for dividend reinvestments
and stock dividends under the Plan and will discontinue issuances
of common shares from treasury under the Plan. Purchases of common
shares under the Plan will be made by Computershare Trust Company
of Canada, as agent under the
Plan, in the secondary market in accordance with the provisions of
the Plan. All brokerage commissions or service charges in
connection with such purchases will be paid by the Bank.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial
partner, to deliver sustainable, profitable growth and maximize
total shareholder return. Guided by our purpose: "for every
future," we help our clients, 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 assets of approximately $1.4 trillion (as at July
31, 2024), Scotiabank trades on the Toronto Stock Exchange
(TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more
information, please visit www.scotiabank.com and follow us on X
@Scotiabank.
SOURCE Scotiabank