The Bank of Nova Scotia
BNSFinancial Services · Stock · quarterly payer
Forward Yield
3.50%
Annual Dividend
$3.29
Payout Ratio
58%
5-Yr Growth
2.7%
Ex-Date
Oct 6, 2026
Frequency
Quarterly
Summary
As of September 2026, The Bank of Nova Scotia (BNS) yields 3.50% ($3.29 per share annually), with a blended fair-value estimate of $122.39 — +30% upside, so it screens as undervalued. Dividend safety grade: C (52/100).
Is BNS a good dividend stock?
MixedThe Bank of Nova Scotia (BNS) pays a quarterly dividend yielding 3.50% ($3.29/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Comfortable payout ratio (58%)
- 43% total price return over 5 years
Risks
- Cut its dividend in 2025
Key Data
- Dividend Yield
- 3.50%
- Payout Ratio
- 58%
- Annual Dividend
- $3.29
- 5-Yr Avg Growth
- 2.7%
- Ex-Dividend Date
- Oct 6, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 1.21
- Market Cap
- $114.5B
- P/E Ratio
- 17.2
- 5-Yr Total Return
- 43%
- 52-Week Range
- $62.98 – $95.34
- Dividend Safety
- C · 52/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
BNS Price — Last 12 Months
Daily close
Price Return
1 Year
+43%
3 Years
+132%
5 Years
+43%
52-Week Range
$62.98 – $95.34
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is BNS worth?
Undervaluedlow confidenceOur blended fair-value estimate for The Bank of Nova Scotia is $122.39 per share, versus a market price of $94.07. That implies 30% of upside — a margin of safety of about 23%.
Fair Value
$122.39
Current Price
$94.07
Upside
+30%
Margin of Safety
23%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 20.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 10.3% discount rate (CAPM), 20.0% stage-1 growth, 2.5% terminal growth, $5.47 EPS, $3.29 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
BNS Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 7, 2026 | — | $0.8030 | regular |
| Apr 7, 2026 | — | $0.7920 | regular |
| Jul 2, 2025 | — | $0.8060 | regular |
| Apr 1, 2025 | — | $0.7370 | regular |
| Jan 7, 2025 | — | $0.7400 | regular |
| Oct 2, 2024 | — | $0.7860 | regular |
| Jul 3, 2024 | — | $0.7750 | regular |
| Apr 1, 2024 | — | $0.7830 | regular |
| Jan 2, 2024 | — | $0.8000 | regular |
| Sep 29, 2023 | — | $0.7860 | regular |
| Jul 5, 2023 | — | $0.8000 | regular |
| Apr 3, 2023 | — | $0.7620 | regular |
| Jan 3, 2023 | — | $0.7590 | regular |
| Oct 3, 2022 | — | $0.7450 | regular |
Income Calculator
At $3.29 / yr per share
