Ex-Div Reminder for Bank of Nova Scotia Halifax's Non-cumulative 5-Year Rate Reset Preferred Shares Series 20

On 10/2/17, Bank of Nova Scotia Halifax’s Non-cumulative 5-Year Rate Reset Preferred Shares Series 20 (TSX: BNS-PRQ.TO ) will trade ex-dividend, for its quarterly dividend of $0.2256, payable on 10/27/17. As a percentage of BNS.PRQ’s recent share price of $25.08, this dividend works out to approximately 0.90%, so look for shares of BNS.PRQ to trade 0.90% lower – all else being equal – when BNS.PRQ shares open for trading on 10/2/17. On an annualized basis, the current yield is approximately 3.60%.

As of last close, BNS.PRQ was trading at a 0.24% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible . Investors should keep in mind that the shares are not cumulative , meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of BNS.PRQ shares, versus BNS:

Performance Comparison Chart

Below is a dividend history chart for BNS.PRQ, showing historical dividends prior to the most recent $0.2256 on Bank of Nova Scotia Halifax’s Non-cumulative 5-Year Rate Reset Preferred Shares Series 20:

BNS.PRQ+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Bank of Nova Scotia Halifax (TSX: BNS.TO ) makes up 4.55% of the SPDR MSCI Canada StrategicFactors ETF ( QCAN ) which is trading higher by about 0.3% on the day Thursday.

In Thursday trading, Bank of Nova Scotia Halifax’s Non-cumulative 5-Year Rate Reset Preferred Shares Series 20 (TSX: BNS-PRQ.TO ) is currently up about 0.1% on the day, while the common shares (TSX: BNS.TO ) are trading flat.


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