Bank of Nova Scotia (The) (NYSE:BNS) Plans Dividend Increase – C$1.14 Per Share

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) announced 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) annualized dividend 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 by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 14 years. Bank of Nova Scotia has a dividend 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 Price Performance

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

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

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.