This is a Top Dividend Growth Stock
For income investors, America has got some pretty solid
dividend-paying financial institutions. However, that does not mean you should
ignore foreign banks altogether.
Case in point, Bank of Nova Scotia (NYSE:BNS), more commonly
known as “Scotiabank,” is currently the third-largest bank in Canada.
Headquartered in Toronto, Ontario, the bank offers wide range of financial
products and services, including personal and commercial banking, wealth
management and private banking, corporate and investment banking, and capital
markets.
Note that BNS stock trades on both the New York Stock
Exchange and the Toronto Stock Exchange, so it’s very convenient for American
investors to pick up its shares.
At first glance, the obvious reason to consider this foreign
bank is its generous dividend policy. Last week, the board of directors of Bank
of Nova Scotia declared a quarterly cash dividend of CA$0.85 per share, marking
a three-percent increase from its previous payout. (Source: “Scotiabank
Announces Dividend on Outstanding Shares,” Bank of Nova Scotia, August 28,
2018.)
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