Tuesday, August 31, 2010

Scotiabank: Higher Earnings, No Dividend Increase

Third quarter earnings are out for Scotiabank.

Well, there you have it. I was hoping to get a dividend increase from Scotia, but alas I'll have wait some more. Dividend

Earnings rose to $0.98 per share, with net income over the $1B mark for the third quarter. So this is another good quarter for the bank.

I'll remind myself that one of the reasons that had me select this bank for my first-ever DRiP company was because management is prudent and disciplined. The obviously thought they'd wait until the details on the new international financial rules are known -- and what their impacts will be -- before raising the dividend.

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