The Bank of Nova Scotia is the third largest Canadian bank with what many say is the largest international presence. The BNS has invested heavily in Latin America. A move that many see as potentially a negative today.
Lots of Canadian seniors hold Canadian bank stock for the generous and dependable dividends. Those dividends can be very important in retirement. Today the BNS dividend is $3.60 annually resulting in a yield of 6.53% based on the present price of the BNS stock.
Founded in 1832, the BNS has gone 187 years without once missing or even reducing its dividend. In fact, the bank habitually does the reverse; it has increased its dividend in 43 of the last 45 years. Because of losses related to covid-19, it is feared investors will not see a dividend increase for three or four years. On the other hand, the bank promises it will not cut its dividend. It says it will not break an almost two century long tradition.
No comments:
Post a Comment