B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Scotiabank raised its quarterly dividend Tuesday as it reported a fourth-quarter profit that rose compared with a year ago and beat expectations.
The first big Canadian bank to report its fourth-quarter results said it will now pay a quarterly dividend of $1 per share, up from 90 cents. Scotiabank also announced plans to buy back up to 24 million of its shares.
The increased payment to shareholders and share buyback plan follow a decision by the Office of the Superintendent of Financial Institutions earlier this month to lift COVID-19-related restrictions and allow federally regulated banks and insurers to increase dividends, resume share buybacks and raise executive compensation.
Scotiabank said its net income totalled nearly $2.6 billion or $1.97 per diluted share for the quarter ended Oct. 31, up from $1.9 billion or $1.42 per diluted share in the same quarter last year.
Revenue totalled nearly $7.7 billion, up from $7.5 billion a year ago.
On an adjusted basis, Scotiabank said it earned $2.10 per diluted share, up from an adjusted profit of $1.45 per diluted share in its fourth quarter last year.
Analysts on average had expected Scotiabank to earn an adjusted profit of $1.90 per share, according to data compiled by financial markets data firm Refinitiv.
"We ended the year with strong fourth-quarter earnings and exceeded our medium-term financial targets in fiscal 2021," Scotiabank chief executive Brian Porter said in a statement.
"Our diversified business model demonstrated its resilience through the pandemic, and the bank is well positioned to achieve its full earnings power in the upcoming year."
The increase in profit came as the bank's provisions for credit losses fell to $168 million in its fourth quarter, compared with $1.13 billion in the same quarter last year and $380 million in its third quarter.
Scotiabank said its Canadian banking operations earned $1.2 billion, up from $778 million in the same quarter last year.
International banking operations earned $528 million, up from $263 million a year ago, while global wealth managing earned $385 million, up from $323 million. Global banking and markets earned $502 million, up from $460 million.
For its full financial year, Scotiabank said it earned nearly $10 billion or $7.70 per diluted share on $31.3 billion in revenue, up from a profit of nearly $6.9 billion or $5.30 per diluted share on $31.3 billion in revenue a year earlier.
Scotiabank's adjusted profit for the full year totalled $7.87 per diluted share, up from $5.36 per diluted share.
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
As Donald Trump was running for president in 2016, his old friend at the National Enquirer was scooping up potentially damaging stories about the candidate and paying out tens of thousands of dollars to keep them from the public eye.
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
Caleb Williams is heading to the Windy City, aiming to become the franchise quarterback Chicago has sought for decades.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.