Scotiabank Strategy & Financial Objectives
Solid Track Record of Earnings and Dividend Growth
Earnings Per Share (C$)1, 2
Focused strategies to drive long-term growth
Canadian Banking: Target 7-9% earnings
growth and 400bps improvement in
productivity ratio
Focused on customer experience,
business mix shift and distribution
network/digitization to improve costs
International Banking: Target 8-10% earnings
growth and positive operating leverage
-
Attractive, higher growth and
underpenetrated banking markets
Global Banking and Markets
Current earnings reflect trough levels
and focused on strategic agenda
Dividend per Share (C$)
Strong track record of consistent dividends
(and increases) with a current yield of
approximately 4.5%
The Bank has never cut its dividend
Dividend increases are driven in line with
earnings growth and subject to Board
approval
Dividend payout ratio target range of 40-
50%
Current quarterly dividend of $0.74 per
share implies a dividend payout ratio of
~48%
The Bank has strong capital levels to
support capital initiatives including dividend
increases and share buybacks
$3.05
5.67
4.43
$1.92
2.72
2.14
08
09
10 11 12
13
14
15 Q3/16
08
09
10
11
12
13
14
15 Q3/16
YTD
YTD
(1)
(2)
Reflects adoption of IFRS in Fiscal 2011
Excludes notable items
21
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