National Bank Declares Dividends

MONTREAL, QUEBEC--(Marketwire - March 1, 2012) - National Bank of Canada's NA Board of Directors announces today a dividend on its common shares of $0.75 per common share for the quarter ending April 30, 2012. This dividend will be payable on May 1st, 2012 to holders of record of common shares on March 29, 2012.

The Board of Directors also declares quarterly dividends on the following series of first preferred shares. These dividends are payable on May 15, 2012 to holders of record of first preferred shares on April 13, 2012.

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Series       Ticker symbol (TSX)       Dividend number   Dividends per share
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15                       NA.PR.K                No. 36             $0.365625
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16                       NA.PR.L                No. 28             $0.303125
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20                       NA.PR.M                No. 16                $0.375
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21                       NA.PR.N                No. 15              $0.33594
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24                       NA.PR.O                No. 13               $0.4125
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26                       NA.PR.P                No. 13               $0.4125
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The above-mentioned dividends on the common and preferred shares are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar applicable provincial legislation.

At no cost, eligible shareholders may elect to reinvest their common shares dividends in common shares in accordance with the Bank's Dividend Reinvestment and Share Purchase Plan. For more information, please contact Computershare Trust Company of Canada at 1-888-838-1407. Beneficial or non-registered common and preferred shareholders must contact their financial institution or broker for instructions on how to participate in such Plan.

About National Bank of Canada

National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. As at January 31, 2012, National Bank has over CDN$175 billion in assets in accordance with IFRS and, together with its subsidiaries, employs 19,785 people. The Bank's securities are listed on the Toronto Stock Exchange NA. For more information, visit the Bank's website at www.nbc.ca. To access National Bank of Canada's financial literacy portal, visit www.clearfacts.ca.

The telephone numbers provided below are for the exclusive use of journalists, other media representatives and shareholders.