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

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) declared a quarterly dividend on Tuesday, August 27th, Zacks reports. Shareholders of record on Wednesday, October 2nd will be paid a dividend of 0.768 per share by the bank on Tuesday, October 29th. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Wednesday, October 2nd.

Bank of Nova Scotia has raised its dividend by an average of 5.1% per year over the last three years. Bank of Nova Scotia has a dividend payout ratio of 60.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of Nova Scotia to earn $5.11 per share next year, which means the company should continue to be able to cover its $3.15 annual dividend with an expected future payout ratio of 61.6%.

Bank of Nova Scotia Price Performance

BNS stock opened at $54.49 on Tuesday. The firm has a market cap of $67.00 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $55.12. The stock has a 50-day simple moving average of $49.15 and a 200-day simple moving average of $48.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The company had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter last year, the company earned $1.30 earnings per share. Bank of Nova Scotia’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts predict that Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

BNS has been the subject of a number of analyst reports. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. UBS Group began coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus target price of $69.00.

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.