The Bank of Nova Scotia (NYSE:BNS) Declares $0.74 Quarterly Dividend

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 5.97%. The ex-dividend date is Tuesday, April 1st.

Bank of Nova Scotia has raised its dividend 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 payout ratio of 52.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Performance

Shares of BNS opened at $49.68 on Friday. The company has a market capitalization of $61.87 billion, a price-to-earnings 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 1 year low of $43.67 and a 1 year high of $57.07. The company’s 50 day simple moving average is $51.72 and its 200 day simple moving average is $52.35.

Analyst Ratings Changes

A number of analysts have issued reports on BNS shares. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.50.

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.