Dividend Increase – BNS

ID-100130817-300x200 Dividend Increase – BNSBank of Nova Scotia (BNS) just declared CAD 0.79 quarterly dividend. This is an increase of 3.9% from CAD 0.76.

I own 37 shares, so this will increase my annual dividend income by CAD 4.44 to $4,103.62

I updated both my Passive Income page as well as my Portfolio page to reflect the changes.

My Thoughts:

BNS has been a great holding of mine. They increase the divided two time this year. The first increase was 2.7% and this one was 3.9%. So for the year, BNS has increased its dividend by a combined 6.33%. This is just fanatics.

I find the stock price to be fair to slightly overvalued right now. I plan to continue to hold this stock. I would only purchase more shares if there is a significant decline in share price.

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Comments

  1. Two raises in one year. The increases continue to snowball for you. You’re building your own pension for the future. Way to go! The magic of compounding is incredible. Thanks for your website which helps to spread the word and educate others on the power of the “dividend snowball”.

  2. The Canadian banks keep plugging away. They are so resilient and I’m happy to hold several in my ROTH account. I remember in late ’14 and ’15 when they all went to the dumps because oil was diving. It was a good time to add to those solid dividend payers (TD, BNS, RY). Thanks for sharing.

    • Hi DH and Felix,

      Yes I also bought BNS at it’s trough in 2015 and it has been rewarding. I plan to hold it.

      Since you have a ROTH I am assuming that you are a U.S. citizen; how do you handle Canadian with holding taxes? I have been told that there is a tax treaty between U.S. and Canada which allows U.S. citizens to not be taxed on Canadian holdings in a U.S. Roth. Until last year I had held it in a taxable account, and I had been deducting the with held tax as a foreign tax credit at tax time. After being told about the treaty I “moved” the BNS too my Roth, but so far they are still with holding BNS tax. What is you experience.

      Thanks, Jim.

      • Hi Jim,
        Thanks for reading and commenting.
        I am not a tax expert. I keep BNS in my taxable account. There is a withholding tax on the dividend that I get from BNS and TD. I do not mind it as it is very little.

        My best advice for you would be to contact a tax expert for questions relating to tax. Thank you for visiting.

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