06:24 AM EDT, 05/27/2025 (MT Newswires) -- Bank of Nova Scotia ( BNS ) was at last look down 1.1% on Tuesday after it lodged a second-quarter adjusted earnings miss amid slightly lower-than-expected revenue. The bank cited the "uncertain macroeconomic outlook," but increased its dividend and announced a share buyback,

For Q2, Scotiabank reported diluted earnings per share of $1.52 versus $1.58 a year earlier and a FactSet forecast of $1.55.

Revenue rose to $9,080 million compared with $8,347 million in the year-earlier period and a FactSet forecast of $9,087.8 million.

In an earnings preview note published earlier this month, National Bank forecast $1.59 versus a consensus of $1.55. It also forecast a dividend increase. Among key themes, National Bank expected the corporate segment to lead the way; said the provision build could diverge from peers; and added capital markets could provide a "relatively lower uplift."

Among other highlights today, Scotia announced an increase to the quarterly dividend by $0.04 cents to $1.10 on the outstanding shares of the Bank, payable July 29 to shareholders of record at the close of business on July 2.

The bank also announced its intention to seek regulatory approval, including from the Toronto Stock Exchange, for a normal course issuer bid to purchase up to 20 million of its common shares, or 1.6% of the issued and outstanding shares.

"Amidst the continuously-evolving economic outlook, we are focused on what we can control and are executing on our strategic plan while continuing to deliver positive operating leverage," said the bank's President and CEO Scott Thomson. "This quarter we increased our performing allowances to reflect the impact of an uncertain macroeconomic outlook. With strong balance sheet metrics, we remain well positioned to support our clients through this period of uncertainty and to seize growth opportunities as they arise."

BNS closed Tuesday up $0.05 at $71.74.