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Scotiabank Q3 net earnings soar 57%; total revenue rises to $5.59B from $4.3B
TORONTO – Scotiabank (TSX:BNS) says third-quarter profits grew by 57 per cent as several of its divisions improvedperformance while the bank also benefited from the sale of Scotia Plaza in Toronto.
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.
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