Bank of Nova Scotia Posts Higher Q1 Results, Raises Dividend (BNS)

• The bank reported net income of C$1.65 billion, or C$1.35 per share, up from C$1.61 billion or C$1.32 per share, a year ago.
• Excluding special items, EPS was C$1.36 per share – below analysts estimate of C$1.38 per share.
• Revenue came in at C$5.96 billion from C$5.73 billion last year Analysts expected to see revenue of C$5.92 billion.

The banks President and CEO Brian Porter commented: “All three business lines contributed to a solid start to the year. Despite some challenging market conditions, we will continue to grow by focusing on our customers and deepening our relationships with them.”

The company boosted its dividend from 66 cents to 68 cents, or $2.72 annually. The next dividend will be paid on April 28 to shareholders of record on April 7.

Click here to see the complete history of BNS dividends.

Shares of BNS were mostly flat during premarket trading Tuesday. The stock is down 6.48% YTD.

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

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