Scotiabank Declares Qtly Dividend Of C$1/share; To Buyback Up To 24 Mln Shares - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter and fiscal 2021 on Tuesday, Canadian lender Bank of Nova Scotia (BNS.TO, BNS), called Scotiabank, announced a dividend of C$1.00 per share on the outstanding shares of the Bank, payable January 27, 2022 to shareholders of record at the close of business on January 4, 2022:

Scotiabank also announced that the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions have approved its normal course issuer bid to purchase up to 24 million of its Common Shares. This represents approximately two percent of the 1.22 billion Common Shares issued and outstanding as of November 22, 2021.

Scotiabank believes that the purchase of its Common Shares at market prices may be an appropriate use of its funds to generate shareholder value, as well as for capital management purposes.

Purchases under the bid may commence on December 2, 2021, and will terminate on December 1, 2022, or on such earlier date as Scotiabank may complete its purchases pursuant to the notice of intention to make a normal course issuer bid filed with the TSX.