Bank of Nova Scotia (BNS) is one of the Canadian banks – the third largest of the Big Five. Scotiabank, as it is more commonly known, has the most international presence of the Canadian banks with exposure in 55 countries outside Canada. The Canadian banks are regarded as some of the safest financial institutions in the world. The companies have a long track record of being conservative and focused on long-term stability and prosperity.
BNS has existed as an institution since 1832 and paid dividends since the same year – an unbroken chain and no dividend cut. It makes for a great core position in any investor’s portfolio. There are plenty of headwinds facing the Canadian economy and the banks – including a recession, weak Canadian dollar, possibility of a housing bubble and potential crash, which has led to very attractive valuation levels for investors looking to initiate or add to their positions. This article takes a closer look at the stock and provides a full dividend stock analysis.