Bank of Nova Scotia (The) (NYSE:BNS) Announces Quarterly Dividend of C$1.14

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) declared a quarterly dividend on Tuesday, December 2nd. Stockholders of record on Tuesday, July 7th will be paid a dividend of 1.14 per share by the bank on Wednesday, July 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, July 7th. This is a 3.6% increase from Bank of Nova Scotia’s previous quarterly dividend of $1.10.

Bank of Nova Scotia has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Bank of Nova Scotia has a payout ratio of 59.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank of Nova Scotia to earn $6.71 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 49.2%.

Bank of Nova Scotia Stock Down 0.0%

BNS opened at $85.36 on Friday. The company has a market cap of $104.57 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.06 and a beta of 1.11. The business’s 50-day moving average price is $81.05 and its 200-day moving average price is $76.02. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 12 month low of $54.31 and a 12 month high of $87.97.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the prior year, the business posted $1.52 EPS. Bank of Nova Scotia’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Bank of Nova Scotia will post 6.01 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Finally, Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.