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

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) declared 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) annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, October 6th.

Bank of Nova Scotia has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Bank of Nova Scotia has a payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NYSE BNS traded up $6.30 during mid-day trading on Tuesday, reaching $93.16. The company’s stock had a trading volume of 4,250,048 shares, compared to its average volume of 2,401,410. The firm has a market capitalization of $113.55 billion, a PE ratio of 17.78, a P/E/G ratio of 1.08 and a beta of 1.11. 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 stock has a fifty day moving average of $87.62 and a two-hundred day moving average of $79.69. Bank of Nova Scotia has a 52 week low of $58.77 and a 52 week high of $93.44.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter last year, the company earned $1.52 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank of Nova Scotia will post 6.03 EPS for the current fiscal year.

Bank of Nova Scotia News Summary

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Quarterly earnings beat expectations: Scotiabank reported record third-quarter results, with adjusted earnings per share of $2.28 versus analyst expectations of approximately $2.10. Reported profit rose to $2.95 billion from $2.53 billion a year earlier, while revenue increased 11.1% year over year. Scotiabank posts record quarter as capital markets surge lifts profit past estimates
• Positive Sentiment: Capital markets and wealth management drove results: Elevated market volatility supported stronger-than-expected performance in global banking and markets, while global wealth management posted a record result. Reports also cited growth across all major business lines, including higher interest income. Scotiabank Earnings Lifted by Record Result in Wealth Management
• Positive Sentiment: TD Securities upgraded the stock: TD Securities raised its rating on Bank of Nova Scotia from “hold” to “buy,” adding further support to the shares following the earnings announcement. Finviz Bank of Nova Scotia coverage
• Neutral Sentiment: Credit-card expansion: Scotiabank launched a no-fee Visa card for Canadian business owners offering 1% cash back. The product could support customer acquisition and payments growth, although its near-term earnings impact is likely limited. Scotiabank Launches New No Fee Visa Credit Card

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.