Topic: How To Invest

Dividend Advisor Hotline – Friday, June 8, 2018

Article Excerpt

BANK OF NOVA SCOTIA, $76.36, Toronto symbol BNS, increased its quarterly dividend with the April 2018 payment by 3.8%, to $0.82 a share from $0.79. The new annual rate of $3.28 yields a high 4.3%. The bank reported better-than-expected earnings for its latest quarter, as higher interest rates helped offset slowing mortgage demand in Canada. Strong loan growth and lower taxes also boosted earnings for its operations in Latin America. In its fiscal 2018 second quarter, ended April 30, 2018, the bank’s overall earnings rose 3.2%, to $2.06 billion from $1.99 billion a year earlier. Due to fewer shares outstanding, per-share earnings rose 4.9%, to $1.71 from $1.63. That beat the consensus estimate of $1.67. In the quarter, earnings from Canadian banking operations (47% of the total) rose 4.7%, while international business (32% of earnings) reported 13.4% higher profits. However, earnings from securities trading (21%) fell 13.5% on weaker results, mainly due to lower equity trading volumes and the negative impact of foreign…

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