5 Best Canadian Dividend Stocks to Buy Now

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In this article, we will be looking at the 5 best Canadian dividend stocks to buy now. If you want to see our detailed analysis of dividend investing, you can go directly to the 10 Best Canadian Dividend Stocks to Buy Now.

5. The Bank of Nova Scotia (NYSE: BNS)

Number of Hedge Fund Holders: 19
Dividend Yield: 4.66%

The Bank of Nova Scotia (NYSE: BNS) offers a range of banking products and services in the US, Canada, Mexico, Peru, Chile, Colombia, the Caribbean, and Central America. The company ranks 5th on our list of the best Canadian dividend stocks to buy now.

Paul Holden, an analyst at CIBC, also raised his price target on The Bank of Nova Scotia (NYSE: BNS) from $72.37 to $73.17 this June. Additionally, Barclays’ John Aiken upgraded The Bank of Nova Scotia (NYSE: BNS) shares from Underweight to Equal Weight in the same month.

In the fiscal second quarter of 2021, The Bank of Nova Scotia (NYSE: BNS) had an EPS of $1.57, beating estimates by $0.12. The company’s revenue was $6.41 billion, up 11.11% year over year but missing estimates by $101.76 million. The Bank of Nova Scotia (NYSE: BNS) has also gained 14.21% in the past 6 months and 15.14% year to date.

By the end of the first quarter of 2021, 19 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Bank of Nova Scotia (NYSE: BNS) worth roughly $239 million. This is compared to 19 hedge funds in the previous quarter with a total stake value of approximately $336 million.


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