TORONTO, Aug. 30, 2016 /CNW/ - Scotiabank (TSX:BNS)(NYSE:BNS) today announced a dividend on the outstanding shares of the Bank for the quarter ending October 31, 2016, as follows, payable on October 27, 2016 to shareholders of record at the close of business on October 4, 2016:

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 (the "Plan"). As previously announced, until such time as the Bank elects otherwise for the purposes of dividend reinvestments, stock dividends and optional share purchase under the Plan, the Bank will issue Common Shares from treasury at the average market price (as defined in the Plan). Such shares will be allotted for issuance by Computershare Trust Company of Canada, as agent under the Plan, for the account of participants in the Plan, in an amount determined in accordance with the provisions of the Plan.