09:45:49 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,207,516,130
Close 2015-10-06 C$ 59.40
Market Cap C$ 71,726,458,122
Recent Sedar Documents

Successful Inv says buy Scotiabank

2015-10-06 21:00 ET - In the News

The Successful Investor, in its October, 2015, issue, says buy Bank of Nova Scotia, recently $59. The Investor said buy 28 times from March, 1996, to April, 2015, at prices ranging from $30 to $73 (the stock split 2 for 1 on Feb. 10, 1998, and again on April 2, 2004). Assuming an investment of $1,000 for each of the 28 buys, the $28,000 position would now be worth $55,224. The bank earned $1.85-billion in its fiscal 2015 third quarter, which ended July 31, 2015, up from $1.8-billion a year earlier. Earnings per share increased to $1.45 from $1.40 on fewer shares outstanding. Revenues fell to $6.1-billion in the latest quarter from $6.5-billion last year, mainly because Scotiabank sold most of its shares in mutual fund provider CI Financial Corp. The bank set aside $480-million to cover potential bad loans in the third quarter of fiscal 2015, up from $398-million a year earlier. That's mainly because it is providing more loans to consumers in Canada and Latin America. Scotiabank has raised its quarterly dividend to 70 cents a share from 68 cents a share. The new annual rate of $2.80 a share is an attractive 4.7-per-cent yield. The stock remains a buy.

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