The Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) declared a quarterly dividend on Tuesday, August 27th, Zacks reports. Investors of record on Wednesday, October 2nd will be given a dividend of 0.768 per share by the bank on Tuesday, October 29th. This represents a $3.07 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend is Wednesday, October 2nd.
Bank of Nova Scotia has increased its dividend payment by an average of 5.1% annually 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 Stock Down 0.7 %
Shares of Bank of Nova Scotia stock opened at $54.44 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day moving average of $49.00 and a 200 day moving average of $48.09. The firm has a market cap of $66.94 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.71 and a beta of 1.04. Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $55.12.
Analyst Ratings Changes
Several brokerages recently weighed in on BNS. Cibc World Mkts upgraded 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 initiated coverage on shares of Bank of Nova Scotia in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $69.00.
Check Out Our Latest Stock Analysis on BNS
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.
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