The Bank of Nova Scotia Limited (Scotiabank) is a widely held public company. With approval, an investor can own up to 20% of any class of voting shares and up to 30% of any class of non-voting shares. Common shares of the Bank are listed on the Toronto, New York and London stock exchanges.

At the end of 2002, the Bank had approximately 174,000 registered and non-registered common shareholders. Among them are employees, individual investors and institutional investors, including mutual funds and pension funds. Most shareholders are non-registered, with their shares held in the name of an intermediary, such as a securities broker or trustee.

Shareholder returns
Fiscal 2002 marked the 11th consecutive year of dividend growth for Scotiabank, with dividends increasing 17% over the prior year. This continues nearly four decades of annual dividend increases, reflecting the underlying growth and strength of Scotiabank’s earnings, and is one of the most consistent records for dividend growth among major Canadian companies. The Bank’s dividend payment has generally been in the range of 30 to 40% of net income.

The return to common shareholders (including both dividends and appreciation in the price of the Bank’s common shares) for fiscal 2002 was 7.8%, well above the S&P/TSX Composite Index, which declined 8%. The compound annualized return to common shareholders over the past five years was 11.1%, well above the S&P/TSX Banks Total Return Index. The 10-year return was even stronger at 18.3%.

More detailed information is available in the following documents:

For Financial Highlights, refer to Scotiabank's 2002 Annual Report, p. 34 or view it online at www.scotiabank.com.

For taxes paid in 2002, click here.