Ottawa Business Journal - Canada - World

Article

Print
Send to a friend
Comment (0)

Scotiabank Q3 net earnings soar 57%

(Stock image)

Published on August 28, 2012; Published on August 28, 2012
The Canadian Press ~ OBJ

Scotiabank (TSX:BNS) says third-quarter profits grew by 57 per cent as several of its divisions improved performance while the bank also benefited from the sale of Scotia Plaza in Toronto.

Topics :: Thomson Reuters

The bank, which is raising its quarterly dividend by two cents to 57 cents per share, says net income was $2.05 billion, or $1.69 per share in the three month period.

That was up from $1.3 billion, or $1.10 per share, a year ago.

The results came in three cents higher than analyst expectations, according to a survey by Thomson Reuters.

Revenue increased to $5.51 billion from $4.3 billion.

The bank says the results included an after-tax gain of $614 million from the sale of its headquarters, a 68-storey tower near the corner of King and Bay streets.

Rate
Top of the page

Submit a comment

Submit a comment Your name* Email* (we keep all emails private) Write your comment here*

Agreement

We ask that users remain courteous. You may not post insulting, discriminatory or inappropriate content, which may be removed at our discretion. We are not responsible for user content and opinions. Use of this site as well as content submission & ownership are governed by our Conditions of Use and Privacy Policy.

Member organizations should be non-profit in nature, and promote legal activities. Any organization found promoting illegal activities or commercial products or services will be deleted from the site.

I agree with these conditions.