TORONTO, Dec. 8 /PRNewswire-FirstCall/ -- Scotiabank today increased the dividend on its common shares by 3 cents to 42 cents per common share for the quarter ending January 31, 2007, payable on January 29, 2007, to shareholders of record at the close of business on January 2, 2007. The Bank also declared the following dividends on Non-Cumulative Preferred Shares for the quarter ending January 31, 2007, payable on January 29, 2007, to shareholders of record at the close of business on January 2, 2007: - Series 12, Dividend # 34 of $0.328125 per share; - Series 13, Dividend # 7 of $0.30 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. DATASOURCE: Scotiabank CONTACT: Kevin Harraher, Vice-President, Investor Relations, (416) 866-5982; Paula Cufre, Scotiabank Public Affairs, (416) 933-1093

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