TORONTO -- Scotiabank raised its dividend Tuesday as it reported better-than-expected adjusted profit of roughly $2.275 billion for its first quarter, with strong earnings internationally as well as at home.
The bank's increased its quarterly payment to common shareholders by three cents per share to 82 cents per share, the third of the big Canadian banks to do so this quarter after CIBC and Royal Bank.
On an adjusted basis, Scotiabank reported $1.87 earnings per diluted share, up from to $1.58 per diluted share a year ago and higher than the $1.68 per share expected by analysts surveyed by Thomson Reuters.
A year earlier, Scotiabank's adjusted profit attributable to shareholders was $1.946 billion or $1.58 per diluted share.
The lender's Canadian banking division reported net income attributable to shareholders of $1.1 billion, up 12 per cent compared to the same period a year earlier.
Earnings in its international banking division was up 16 per cent year-over-year to $667 million, as Scotiabank continues to focus its expansion efforts on the Pacific Alliance countries of Chile, Colombia, Mexico, and Peru.
"All of our businesses delivered strong results, contributing to solid top line growth and a continued improvement in efficiency.... We are pleased with our strong start to the year," said Brian Porter, Scotiabank's president and chief executive in a statement.
Bagikan Berita Ini
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