Bank of Nova Scotia Misses Q4 EPS Estimate; Declares Dividend (BNS)

Bank of Nova Scotia Misses Q4 EPS Estimate; Declares Dividend (BNS)


Before the opening bell on Friday morning, Bank of Nova Scotia (BNS) reported its fourth quarter results, posting higher revenues and adjusted EPS compared to last year’s Q4.

BNS’s Earnings in Brief

  • Bank of Nova Scotia reported fourth quarter revenues of C$5.9 billion, which is up from last year’s Q4 revenues of C$5.5 billion.
  • Net income for the quarter came in at C$1.44 billion, or C$1.10 per share, down from last year’s C$1.68 billion, or C$1.29 per share. On an adjusted basis, EPS came in at C$1.32, above last year’s C$1.29.
  • The company’s earnings missed analysts’ estimates of C$1.39 EPS, but revenues were above the C$5.82 billion expected.
  • For the full year, BNS reported net income of C$7.3 billion, or C$5.66 per share, compared to last year’s full year net income of C$6.6 billion, or C$5.11 per share.

CEO Commentary

Commenting on the bank’s full year performance, president and CEO Brian Porter had the following to say: “It was another good year with net income of $7.3 billion. Over the last year we’ve taken some important steps to become an even better bank. We are focused on providing an improved banking experience for our customers while reducing structural costs, in part by simplifying our operating model.”

BNS Declares Dividend

Bank of Nova Scotia declared a dividend of 66 cents, which is payable on January 28 to all shareholders on record as of January 6. The stock goes ex-dividend on January 2.

Stock Performance

BNS stock was inactive in pre-market trading. YTD, the stock is down 4.99%.

BNS Dividend Snapshot

As of Market Close on December 4, 2014

BK dividend yield annual payout payout ratio dividend growth

Click here to see the complete history of BNS dividends.

The Bottom Line

Bank of Nova Scotia (BNS) is recommended at this time, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.