Updates on Bank of Nova Scotia, Pembina Pipeline and Telus

Article Excerpt

BANK OF NOVA SCOTIA $81.70 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $97.9 billion; TSINetwork Rating: Above Average; Dividend yield: 3.9%, www.scotiabank.com) is reportedly looking to sell Scotia- Mocatta, its U.K.-based gold and precious metals trading business. That move follows a scandal involving the smuggling of gold from South America to a refinery in the U.S. ScotiaMocatta accounts for just a small fraction of the bank’s operations, so selling it would have little impact on future earnings. However, a sale would let Bank of Nova Scotia better focus on the expansion of its more-promising banking operations in Latin America. As well, ScotiaMocatta faces increased government scrutiny over its role in the setting of gold and silver prices. Bank of Nova Scotia is a top pick for 2017. PEMBINA PIPELINE $43.64 (Toronto symbol PPL; Shares outstanding: 502.5 million; Market cap: $22.0 billion; TSINetwork Rating: Average; Dividend yield: 4.0%; www.pembina.com) entered into a 20-year infrastructure development agreement earlier this year with Chevron…

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