Bank of Nova Scotia (The) (NYSE:BNS) Raises Dividend to $1.10 Per Share

Key Points

• The Bank of Nova Scotia has raised its quarterly dividend to $1.10 per share, marking a significant 37.6% increase from the previous dividend of $0.80.
• The dividend payout ratio of 55.5% suggests that the dividend is well-covered by earnings, with expectations of $5.66 earnings per share next year.
• The bank's stock performance shows a current price of $57.2980, with a 52-week range between $44.09 and $57.70.

Bank of Nova Scotia (The) (NYSE:BNS - Get Free Report) TSE: BNS announced a quarterly dividend on Tuesday, August 26th, RTT News reports. Investors of record on Tuesday, October 7th will be paid a dividend of 1.10 per share by the bank on Wednesday, October 29th. This represents a c) annualized dividend and a dividend yield of 7.7%. This is a 37.6% increase from Bank of Nova Scotia's previous quarterly dividend of $0.80.

Bank of Nova Scotia has a dividend payout ratio of 55.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of Nova Scotia to earn $5.66 per share next year, which means the company should continue to be able to cover its $3.06 annual dividend with an expected future payout ratio of 54.1%.

Bank of Nova Scotia Stock Performance

NYSE:BNS opened at $57.2980 on Tuesday. The stock has a 50-day simple moving average of $55.58 and a two-hundred day simple moving average of $51.80. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $57.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $71.19 billion, a PE ratio of 16.80, a P/E/G ratio of 1.47 and a beta of 1.14.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. Analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.

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