Bank of Nova Scotia (The) (NYSE:BNS) Declares C$1.10 Quarterly Dividend

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) declared a quarterly dividend on Tuesday, December 2nd. Shareholders of record on Tuesday, January 6th will be paid a dividend of 1.10 per share by the bank on Wednesday, January 28th. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date is Tuesday, January 6th.

Bank of Nova Scotia has decreased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 14 years. Bank of Nova Scotia has a dividend payout ratio of 57.4% meaning its dividend is sufficiently covered by earnings. Equities 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 $3.16 annual dividend with an expected future payout ratio of 55.8%.

Bank of Nova Scotia Stock Performance

NYSE:BNS traded up $1.94 during trading hours on Tuesday, reaching $70.51. The stock had a trading volume of 3,218,058 shares, compared to its average volume of 1,471,907. The stock has a market cap of $87.18 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.06 and a beta of 1.13. The stock has a 50 day simple moving average of $65.65 and a 200 day simple moving average of $59.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $71.00.

Hedge Funds Weigh In On Bank of Nova Scotia

Hedge funds have recently bought and sold shares of the company. Motco lifted its stake in Bank of Nova Scotia by 1.2% in the 3rd quarter. Motco now owns 14,832 shares of the bank’s stock worth $959,000 after purchasing an additional 181 shares in the last quarter. Pacifica Partners Inc. raised its position in shares of Bank of Nova Scotia by 1.0% in the third quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock worth $1,227,000 after buying an additional 190 shares in the last quarter. Addison Advisors LLC boosted its stake in Bank of Nova Scotia by 6.5% during the second quarter. Addison Advisors LLC now owns 3,275 shares of the bank’s stock valued at $181,000 after buying an additional 199 shares during the period. PDS Planning Inc boosted its stake in Bank of Nova Scotia by 2.9% during the second quarter. PDS Planning Inc now owns 7,097 shares of the bank’s stock valued at $392,000 after buying an additional 200 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Bank of Nova Scotia by 9.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

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.