Common Share Dividends

Dividend Philosophy

Scotiabank's practice has been to relate dividends to the trend earnings, while ensuring that capital levels are sufficient for both growth and depositor protection.

This practice, coupled with the Bank's strong earnings growth, has led to dividend increases in 42 of the last 45 years - one of the most consistent records for dividend growth among major Canadian corporations.

The following is a record of increases in the quarterly dividend per common share for the fiscal period 2011 to 2014:

Fiscal 2014 -

2nd quarter - increased from 62 cents to 64 cents.

Fiscal 2013 -

4th quarter - increased from 60 cents to 62 cents.
2nd quarter - increased from 57 cents to 60 cents.

Fiscal 2012 -

4th quarter - increased from 55 cents to 57 cents.
2nd quarter - increased from 52 cents to 55 cents.

The Bank has paid dividends to common shareholders every year since its foundation in 1832.
Quarterly Dividends (as declared) per Common Share (2011 to present)

Fiscal years
$Cdn 2011 2012 2013 2014
Q1 0.49 0.52 0.57 0.62
Q2 0.52 0.55 0.60 0.64
Q3 0.52 0.55 0.60
Q4 0.52 0.57 0.62

Common Share Dividend History and Stock Splits

Record and Payment Dates for Dividends (Common and Preferred)

Subject to approval by the Board of Directors, the payment date for common and all preferred shares is usually the third last business day of each fiscal quarter. Bank fiscal quarters end with the months of January, April, July and October.

The record date is the first Tuesday of the month in which dividends are paid. If the first Tuesday falls on a statutory holiday, the record date will be fixed on the next business day.

Fiscal 2014 Common and Preferred Dividend Dates
(subject to approval by the Board of Directors)
Declared Ex-Dividend Record Payment
December 6, 2013 January 3, 2014 January 7, 2014 January 29, 2014
March 4, 2014 March 28, 2014 April 1, 2014 April 28, 2014
May 27, 2014 June 27, 2014* July 2, 2014 July 29, 2014
August 26, 2014 October 3, 2014 October 7, 2014 October 29, 2014
* June 30, 2014 for BNS-N

Dividend Taxation
The federal Income Tax Act, and most provincial income tax legislation, provides lower levels of taxation for Canadian individuals who receive eligible dividends. All of the dividends paid by the Bank of Nova Scotia, and any of its subsidiaries, in 2006 are eligible dividends and all dividends paid hereafter will be eligible dividends unless indicated otherwise.

Direct Deposit
Registered shareholders may have dividends conveniently deposited directly into accounts held at financial institutions which are members of the Canadian Payments Association.
To arrange for direct deposit service, write, phone or fax the Transfer Agent:

Computershare Trust Company of Canada
100 University Ave., 8th floor
Toronto, Ontario, Canada
M5J 2Y1

Tel: 1-877-982-8767
Fax: 1-888-453-0330

Shareholder Contact Information

Contact information for shareholders questions and inquiries.

Common Share - Closing Prices

A history of the daily closing prices (1983 - present) for the Bank's common share traded on the Toronto Stock Exchange.