Scotiabank posts $1.7 billion profit in first quarter, raising dividend

TORONTO - Bank of Nova Scotia (TSX:BNS) had $1.709 billion of net income in the first quarter, up 6.5 per cent from a year earlier.

The profit amounted to $1.32 per common share, up from $1.24 per share a year earlier.

Scotiabank also says the dividend on its common shares will go up three per cent to 64 cents.

That's a gain of two cents per share, starting April 28.

Scotiabank is the last of Canada's big banks to report financial results for the three months ended Jan. 31.

All of the banks reported stronger profits compared with the last year's first quarter.