Scotia Group increases dividend payment by 12.5 percent to 45 cents per share, to be paid in October. The payment brings to $1.65 the amount paid per share for the year to date amounting to a total of $5.134 billion.
The group increased the dividend payment to 40 cents in October last year, from 35 cents in July 2023. The increase is in line with profit for the nine months to July. Based on historical trends, the increase is consistent with payments of 45 cents per quarter until July 2025 with a likely increase in the October payment. That would put the dividend yield at more than 4 percent at $1.80 per annum.
Scotia reported earnings per share of $1.75 for the July quarter and $4.50 for the nine months to July, the dividends represent a pay out ratio of 28 percent versus 27 percent for 2023.
Scotia Group hikes dividend
September 8, 2024 by
