The Bank of Nova Scotia (NYSE:BNS) Declares $0.77 Quarterly Dividend

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) declared a quarterly dividend on Tuesday, May 28th, Zacks reports. Investors of record on Wednesday, July 3rd will be given a dividend of 0.769 per share by the bank on Monday, July 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date is Wednesday, July 3rd.

Bank of Nova Scotia has raised its dividend by an average of 5.1% annually over the last three years. Bank of Nova Scotia has a dividend payout ratio of 61.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Nova Scotia to earn $5.15 per share next year, which means the company should continue to be able to cover its $3.10 annual dividend with an expected future payout ratio of 60.2%.

Bank of Nova Scotia Stock Down 0.6 %

BNS opened at $45.46 on Tuesday. Bank of Nova Scotia has a 52 week low of $39.79 and a 52 week high of $51.98. The business has a 50 day moving average price of $46.96 and a two-hundred day moving average price of $47.67. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.57. The company has a market cap of $55.90 billion, a PE ratio of 10.24, a P/E/G ratio of 1.69 and a beta of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, May 28th. The bank reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.10 billion. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. As a group, research analysts anticipate that Bank of Nova Scotia will post 4.82 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BNS. StockNews.com lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Barclays began coverage on Bank of Nova Scotia in a report on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $68.00.

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.