Mar 2006 Financial News

Scotiabank proposes bonus issue

Mar 14, 2006

The board of Scotiabank has proposed a bonus issue of one additional share for every two shares held.

It was said that this issue would allow shareholders to benefit from the bank's profitability in a meaningful way. The proposed increase is expected to make shares more accessible to potential investors by creating a degree of liquidity and also provides the Bank with a capital structure for future growth.

The proposal is subject to approval from the bank's shareholders to be determined at a meeting in the near future.

Sreshtha Tewari
WISE Research Team