Bank of Nova Scotia (The) Declares Quarterly Dividend of C$1.10 (NYSE:BNS)

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) declared a quarterly dividend on Tuesday, December 2nd. Shareholders of record on Tuesday, April 7th will be paid a dividend of 1.10 per share by the bank on Tuesday, April 28th. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, April 7th.

Bank of Nova Scotia has increased 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 payout ratio of 58.4% indicating that its dividend is sufficiently covered by earnings. 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 $3.22 annual dividend with an expected future payout ratio of 56.9%.

Bank of Nova Scotia Stock Up 0.0%

Shares of NYSE BNS opened at $70.13 on Friday. The firm’s 50-day moving average is $73.19 and its two-hundred day moving average is $70.25. The company has a market capitalization of $86.36 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 0.85 and a beta of 1.10. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $78.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The firm had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the previous year, the firm posted $1.76 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Institutional Trading of Bank of Nova Scotia

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Bank of Nova Scotia by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock worth $4,221,440,000 after purchasing an additional 1,169,073 shares during the period. Canerector Inc. grew its position in shares of Bank of Nova Scotia by 8,899.0% in the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock valued at $1,745,356,000 after purchasing an additional 26,697,000 shares during the period. TD Asset Management Inc increased its stake in Bank of Nova Scotia by 1.7% in the fourth quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock valued at $1,379,120,000 after purchasing an additional 310,564 shares during the last quarter. Norges Bank acquired a new position in Bank of Nova Scotia in the fourth quarter valued at $1,368,456,000. Finally, FIL Ltd lifted its position in Bank of Nova Scotia by 49.5% during the fourth quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock worth $1,216,157,000 after buying an additional 5,461,052 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.

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.