The Financial Post reports in its Thursday edition Bank of Nova Scotia and Royal Bank of Canada are both expected to raise their dividends when the Big Six lenders begin announcing third-quarter earnings results later this month. The Post's David Pett, writing in Trading Desk, says, however, it is not likely the country's other big lenders will follow suit. "We forecast dividend increases from just BNS and RY this quarter as each of the smaller five banks moved last quarter while TD has moved away from the every-other-quarter pattern," said CIBC's Robert Sedran. "We look for a 5% bump in the dividend from BNS and a 4% increase at RY." Mr. Sedran figures TD has room for a modest dividend increase given its "group low payout ratio." Darko Mihelic, analyst at RBC, agrees TD will not make a move on its dividend this quarter, noting outgoing chief executive officer Ed Clark has made it clear that another increase on his watch is not to be expected. Mr. Mihelic expects Bank of Nova Scotia will be the only bank under his coverage (he does not cover Royal Bank) that will raise its dividend later this month. "We assume that BNS will increase its quarterly dividend by 3% to $0.66 in the upcoming quarter," he said.