The Bank of Nova Scotia (BNS) to Issue Quarterly Dividend of $0.77 on July 29th

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 yield of 6.73%. The ex-dividend date is Wednesday, July 3rd.

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 61.3% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

BNS stock opened at $45.72 on Monday. The business’s 50-day moving average is $46.96 and its two-hundred day moving average is $47.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $56.22 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.69 and a beta of 1.05. Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $51.98.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on BNS shares. Barclays initiated coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They set an “underweight” rating and a $70.00 target price for the company. StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average price target of $68.00.

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.