This Bank Stock's Dividend Has Been Compounding for 190 Years. Could It Make You Rich?
Bank of Nova Scotia isn't a household name in the U.S., but this Canadian bank has an incredible dividend story to tell.
Overview
Bank of Nova Scotia (NYSE: BNS) is offering investors a nearly 3.5% yield. The average bank's yield is around 2.2%, and the S&P 500 index (SNPINDEX: ^GSPC) has a tiny 1% yield. If you are looking for a high-yield bank stock, Scotiabank, as it is more commonly known, is probably worth a close look. But the real dividend story is about consistency. Here's what you need to know.
Recently, Scotiabank made a major change in its business. For a long time, the Canadian bank had skipped the U.S. market, focusing instead on Central and South America. That differentiated it from its large Canadian peers, which had focused on growth in the U.S. Scotiabank's plans didn't work out as well as hoped, so it shifted gears. Now, like its peers, it is increasing its focus on the U.S., with a goal of offering its services from Mexico to Canada. Those three countries are contiguous and important trading partners.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
- Anthropic Has Committed More Than $100 Billion to AWS, and Its Prospectus Could Reveal More Details About This Contract
- Analyzing Applied Digital vs. IREN: Accelerating Upward Trajectories vs. Sequential Contractions in Quarterly Revenue Generation
- Forget AI Stocks: This Clean-Power Play Is the Real Winner