Scotiabank Announces Dividend on Common Shares



    TORONTO, May 28 /CNW/ - Scotiabank today declared a dividend on its
common shares of 49 cents per common share for the quarter ending July 31,
2009, payable on July 29, 2009, to shareholders of record at the close of
business on July 7, 2009.
    The Bank also declared the following dividends on Non-Cumulative
Preferred Shares for the quarter ending July 31, 2009, payable on July 29,
2009, to shareholders of record at the close of business on July 7, 2009.

    
    -   Series 12, Dividend No. 44    of    $0.328125      per share;
    -   Series 13, Dividend No. 17    of    $0.30          per share;
    -   Series 14, Dividend No. 10    of    $0.28125       per share;
    -   Series 15, Dividend No. 9     of    $0.28125       per share;
    -   Series 16, Dividend No. 7     of    $0.328125      per share;
    -   Series 17, Dividend No. 6     of    $0.35          per share;
    -   Series 18, Dividend No. 5     of    $0.3125        per share;
    -   Series 20, Dividend No. 5     of    $0.3125        per share;
    -   Series 22, Dividend No. 3     of    $0.3125        per share;
    -   Series 24, Dividend No. 2     of    $0.3906        per share;
    -   Series 26, Dividend No. 2     of    $0.390625      per share;
    -   Series 28, Dividend No. 2     of    $0.390625      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.

    %SEDAR: 00001289EF          %CIK: 0000009631




For further information:

For further information: Kevin Harraher, Vice-President, Investor
Relations, (416) 866-5982; Paula Cufre, Scotiabank Public Affairs, (416)
933-1093


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