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, /CNW/ -- Scotiabank today announced a dividend on the outstanding common shares of the Bank, payable on October 28, 2026, to shareholders of record at the close of business on October 6, 2026:

Common Shares

Dividend No. 629 of $1.14 per share Holders may elect to receive their dividends in common shares of the Bank in lieu of cash dividends, in accordance with the Bank's Shareholder Dividend and Share Purchase Plan (the "Plan"). Under the Plan, the Bank determines whether the additional common shares will be purchased on the open market or issued by the Bank from treasury.

As previously announced, until such time as the Bank elects otherwise, the Bank has discontinued the issuance of common shares from treasury under the Plan. Purchases of common shares under the Plan will be made by Computershare Trust Company of Canada, as agent under the Plan, in the secondary market in accordance with the provisions of the Plan. All brokerage commissions or service charges in connection with such purchases will be paid by the Bank.

About Scotiabank

Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at July 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.

SOURCE Scotiabank

For further information: Meny Grauman, Investor Relations, Scotiabank, [email protected]

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BNS (Scotiabank)

Buy BNS. Earnings show accelerating momentum: net income C$2.9B (+15% YoY), EPS C$2.22, and ROE above the 14% target. Wealth management is the engine (C$518M, +23%), while banking/markets are also strong. The stock is still outperforming KBE, and technicals confirm trend strength (above $127.58 breakout, above 100-day EMA, RSI > 50). Upside case: continuation toward C$150 with buybacks/dividends supporting EPS.

Key Risk: A sharp credit or capital hit (rising loan losses or regulatory capital pressure) that forces margins/ROE back down.

KBE (US bank ETF) relative to BNS

Sell KBE vs BNS (underweight KBE). The article flags BNS forward P/E ~15 versus US peers trading lower, but the key is relative growth quality: BNS’s wealth/fee income and ROE improvement are driving the rerating while KBE is lagging. If the market keeps rewarding “better earnings quality,” BNS should keep widening the performance gap versus the broader US bank basket.

Key Risk: US banks re-accelerate (earnings beat + rate/credit tailwinds) and the market rotates back into the whole sector, closing the relative gap.

Scotiabank stock price continued its strong bull run this week, reaching an all-time high. BNS has jumped 30% this year and 68% over the past 12 months, outpacing the SPDR S&P Bank ETF (KBE), which has risen just 16% this year. This rally may continue in the foreseeable future, as the bank's revenue growth is gaining momentum despite ongoing US-Canada trade tensions.

Bank of Scotiabank is the fourth-largest Canadian bank by assets after Royal Bank of Canada, Toronto-Dominion Bank, and Bank of Montreal. Its financial results showed that its business is doing well, helped by its wealth management business.

The company’s net income jumped to C$2.9 billion in the third quarter from C$2.52 billion in the same period last year. Its profitability also continued rising, with its earnings per share rising to C$2.22. In a statement, Scott Thomson, the CEO, said:

“In particular, we exceeded our 14% return on equity target this quarter, highlighting the improvements that we have made across the bank to increase margins and fee income.”

The biggest driver for the its revenue was the its wealth management segment, which made C$518 million, up by 23% from the same period last year. Its banking and markets segment made $647 million, also 37% higher than what it made last year. 

Bank of Nova Scotia’s Canadian banking and international segments made C$1.07 billion and C$766 million, respectively. These two segments rose by 12% and 8%, respectively. 

The company continues to return funds to its investors, which has helped to boost its earnings-per-share. It repurchased 8.6 million shares in the last quarter, bringing its total repurchases and dividends to C$6.3 billion. It now has a dividend yield of about 3.5%, even as its stock remains at a record high.

A potential catalyst for the stock is that President Donald Trump will likely TACO on his ongoing trade war with Canada. Such a move will reduce the ongoing tensions between the two countries, which are some of the biggest trading partners in the world.

Still, there is a risk that Bank of Nova Scotia is relatively overvalued, with its forward price-to-earnings ratio of 15, higher than its American peers like Goldman Sachs and JPMorgan Chase.

BNS stock chart | Source: TradingView

The daily chart shows that the Scotiabank share price has been in a strong upward trend this year. It rose above the crucial resistance level of $127.58, its highest point in July and August this year. A move above that level invalidated the double-top pattern, which is a common bearish reversal sign.

The stock has remained steady above the 100-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI) moved above the neutral level of 50. Therefore, the stock will likely continue the bullish momentum, potentially to the psychological level of C$150.