The Bank of Nova Scotia (BNS) to Issue Quarterly Dividend of $0.74 on April 28th

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Tuesday, April 1st will be given a dividend of 0.7415 per share by the bank on Monday, April 28th. This represents a $2.97 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend is Tuesday, April 1st.

Bank of Nova Scotia has raised its dividend payment by an average of 4.7% annually over the last three years and has raised its dividend every year for the last 14 years. Bank of Nova Scotia has a dividend payout ratio of 52.5% meaning its dividend is sufficiently covered by earnings. Equities 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 $2.94 annual dividend with an expected future payout ratio of 51.9%.

Bank of Nova Scotia Stock Down 1.4 %

Bank of Nova Scotia stock opened at $49.68 on Friday. The stock has a 50-day simple moving average of $51.72 and a 200-day simple moving average of $52.35. The company has a market capitalization of $61.87 billion, a P/E ratio of 11.50, a PEG ratio of 1.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07.

Wall Street Analyst Weigh In

BNS has been the subject of a number of recent research reports. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada lowered their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a report on Wednesday. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.50.

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.