Bank of Nova Scotia (The) (BNS) to Issue Quarterly Dividend of $1.10 on October 29th

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) declared a quarterly dividend on Tuesday, August 26th, RTT News reports. Investors of record on Tuesday, October 7th will be given a dividend of 1.10 per share by the bank on Wednesday, October 29th. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Tuesday, October 7th. 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% meaning its dividend is sufficiently covered by earnings. 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 $61.74 on Thursday. The firm’s fifty day moving average price is $55.87 and its 200 day moving average price is $51.93. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $62.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $76.70 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.71%. The firm had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the firm posted $1.63 EPS. Bank of Nova Scotia’s quarterly revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BNS shares. Wall Street Zen lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Royal Bank Of Canada lifted their price objective on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia presently has an average rating of “Hold” and a consensus price target of $86.00.

About Bank of Nova Scotia

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.