More fron BNS:


"Announced DRIP should help support dividend sustainability despite the significant
reduction to our estimates.
Q3/12 free cash flow of $16 million was not enough to support
cash dividend payments in the quarter ($22 million), but reduced capital spending and DRIP
participation should see positive excess FCF going forward.

We estimate 2013 "excess" FCF of $35 million, supported by CFFO of $120 million, capex of $20 million, and cash dividends of $65 million, reflecting a 30% DRIP participation (in line with peers)".