TORONTO, Dec. 2 /CNW/ - Scotiabank today declared a dividend on its
common shares of 49 cents per common share for the quarter ending January 31,
2009, payable on January 28, 2009, to shareholders of record at the close of
business on January 6, 2009.
    The Bank also declared the following dividends on Non-Cumulative
Preferred Shares for the quarter ending January 31, 2009, payable on January
28, 2009, to shareholders of record at the close of business on January 6,
2009:-   Series 12, Dividend No. 42   of    $0.328125     per share;
    -   Series 13, Dividend No. 15   of    $0.30         per share;
    -   Series 14, Dividend No. 8    of    $0.28125      per share;
    -   Series 15, Dividend No. 7    of    $0.28125      per share;
    -   Series 16, Dividend No. 5    of    $0.328125     per share;
    -   Series 17, Dividend No. 4    of    $0.35         per share;
    -   Series 18, Dividend No. 3    of    $0.3125       per share;
    -   Series 20, Dividend No. 3    of    $0.3125       per share;
    -   Series 22, Dividend No. 1    of    $0.4829       per share.Holders may elect to receive their dividends in common shares of the Bank
in lieu of cash dividends, in accordance with the Bank's Shareholder Dividend
and Share Purchase Plan.

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