Friday, May 27, 2022

Dividend Increase - Scotiabank (BNS)



Wednesday, May 25th the Board of Directors of Scotiabank (BNS) announced a quarterly dividend increase of from C$ 1.00 to C$ 1.03 per share that’s payable July 27, 2022 to holders of record July 5, 2022. This represents a 3.00% increase over the last quarterly dividend.


With current price C$ 84.33 (yesterday's close), this raise brings their dividend yield to 4.89%.


Due to the pandemic, BNS paid the same dividend in 2020 and 2021, so Scotiabank is no longer a member of Canadian Dividend All Star. So dividend growth rates for 1, 3, 5 and 10 years are 0.0, 3.2, 4.6 and 5.8 (Canadian Dividend All-Star List)



Since I own 165 shares of BNS, this will increase my portfolio's projected annual net dividend income by $ 11.51.


Scotiabank last raised its dividend in November 2021, so it looks like the pre-pandemic era is back and the dividend will probably rise again twice a year. If that's going to happen, then I'm quite happy with this increase.


This is the 13th dividend increase I received from Scotiabank since initiating a position March 2014. During this period, the quarterly dividend has risen according to my expectations from $0.64 to $1.03, or 60.9%


This increase raises my YOC to 6.85%.



Summary of 2022 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long BNS


Thanks for stopping by!


1 comment:

  1. Thanks for the update :) Great company where I also invested some money.