The Bank of Nova Scotia
BNSFinancial Services · Stock · quarterly payer
Forward Yield
3.59%
Annual Dividend
$3.21
Payout Ratio
61%
5-Yr Growth
2.7%
Ex-Date
Jul 7, 2026
Frequency
Quarterly
Summary
As of July 2026, The Bank of Nova Scotia (BNS) yields 3.59% ($3.21 per share annually), with a blended fair-value estimate of $114.29 — +28% 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 3.59% ($3.21/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
- 44% total price return over 5 years
Risks
- Cut its dividend in 2025
Key Data
- Dividend Yield
- 3.59%
- Payout Ratio
- 61%
- Annual Dividend
- $3.21
- 5-Yr Avg Growth
- 2.7%
- Ex-Dividend Date
- Jul 7, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 1.21
- Market Cap
- $106.3B
- P/E Ratio
- 17.5
- 5-Yr Total Return
- 44%
- 52-Week Range
- $55.21 – $90.47
- 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
+89%
5 Years
+44%
52-Week Range
$55.21 – $90.47
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is BNS worth?
Undervaluedmedium confidenceOur blended fair-value estimate for The Bank of Nova Scotia is $114.29 per share, versus a market price of $89.43. That implies 28% of upside — a margin of safety of about 22%.
Fair Value
$114.29
Current Price
$89.43
Upside
+28%
Margin of Safety
22%
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 14.7% — below our estimate, leaving room for upside if the business executes.
Assumptions: 10.3% discount rate (CAPM), 14.7% stage-1 growth, 2.5% terminal growth, $5.11 EPS, $3.21 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 |
| 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 |
| Jul 5, 2022 | — | $0.8000 | regular |
Income Calculator
At $3.21 / yr per share
