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

The Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Tuesday, April 1st.

Bank of Nova Scotia has increased its dividend by an average of 4.7% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Bank of Nova Scotia has a dividend payout ratio of 52.9% meaning its dividend is sufficiently covered by earnings. 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 Down 0.2 %

BNS stock traded down $0.08 during trading on Friday, reaching $49.61. The stock had a trading volume of 2,557,755 shares, compared to its average volume of 1,873,909. The firm has a fifty day moving average price of $51.64 and a 200 day moving average price of $52.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $61.79 billion, a P/E ratio of 11.48, a PEG ratio of 1.16 and a beta of 1.07. Bank of Nova Scotia has a 1-year low of $43.67 and a 1-year high of $57.07.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BNS shares. Royal Bank of Canada lowered their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research note on Wednesday. Barclays upgraded 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 shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average 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.