Topic: How To Invest

Dividend Advisor Hotline – Friday, August 30, 2019

Article Excerpt

BANK OF NOVA SCOTIA, $70.80, Toronto symbol BNS, will raise its quarterly dividend with the October 2019 payment. Investors will then receive $0.90 a share, up 3.4% from $0.87. The new annual rate of $3.60 yields a high 5.1%. The bank has completed several acquisitions in the past few months. They include buying 68.19% of BBVA Chile for $2.2 billion U.S. BBVA is that South American country’s sixth-largest bank. In May 2018, Bank of Nova Scotia paid $950 million in stock for Jarislowsky Fraser. The Montreal wealth management firm caters to institutional investors and high-net-worth individuals. The bank has also recently completed its purchase of MD Financial Management, which sells wealth management services to Canadian medical doctors and their families. It paid $2.6 billion in cash for that privately held firm. If you exclude costs to integrate those new operations and other unusual items, Bank of Nova Scotia earned $2.46 billion in its fiscal 2019 third quarter, ended July 31, 2019. That’s up 8.7%…