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

Key Points

• Scotiabank declared a quarterly dividend of C$1.14 per share, payable October 28 to shareholders of record on October 6. The dividend implies an annualized yield of approximately 4.9%.
• The bank has increased its dividend for 14 consecutive years, with a 58.3% payout ratio and an expected forward payout ratio of 47.6%, suggesting the dividend remains well covered by earnings.
• Shares rose 7.3% to $93.16, near their 52-week high, after the bank reported quarterly EPS of $1.47—beating analyst estimates of $1.42—and revenue of $7.24 billion.

Bank of Nova Scotia (The) (NYSE:BNS - Get Free Report) TSE: BNS announced a quarterly dividend on Monday, August 24th. Stockholders of record on Tuesday, October 6th will be paid a dividend of 1.14 per share by the bank on Wednesday, October 28th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, October 6th.

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 annually for the last 14 consecutive years. Bank of Nova Scotia has a dividend payout ratio of 58.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Nova Scotia to earn $6.74 per share next year, which means the company should continue to be able to cover its $3.21 annual dividend with an expected future payout ratio of 47.6%.

Bank of Nova Scotia Trading Up 7.3%

Shares of NYSE BNS traded up $6.30 during mid-day trading on Tuesday, hitting $93.16. 4,250,048 shares of the company traded hands, compared to its average volume of 2,401,410. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 1 year low of $58.77 and a 1 year high of $93.44. The stock has a market capitalization of $113.55 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.08 and a beta of 1.11. The business has a 50 day moving average of $87.62 and a two-hundred day moving average of $79.69.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $7.24 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter last year, the business posted $1.52 EPS. Bank of Nova Scotia's revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of Nova Scotia will post 6.03 earnings per share for the current fiscal year.

About Bank of Nova Scotia

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.

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