Scotiabank profit rises 13 pct, dividend boosted

Tue Mar 5, 2013 7:52am EST
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TORONTO, March 5 (Reuters) - Bank of Nova Scotia said on Tuesday that quarterly profit rose 13 percent, driven by acquisitions in its foreign and domestic segments, and it raised its dividend.

Scotiabank, Canada's third-largest lender, earned C$1.63 billion ($1.58 billion), or C$1.25 a share, in the fiscal first quarter ended Jan. 31. That compared with a year-before profit of C$1.44 billion, or C$1.20 a share.

Excluding certain items, the bank earned C$1.27 a share. Analysts had expected C$1.25 a share, according to Thomson Reuters I/B/E/S.

The bank raised its quarterly dividend by 5 percent to 60 Canadian cents a share.

Toronto-based Scotiabank operates in more than 50 countries, with the heaviest weighting in Latin America and a growing presence in Asia.