|Bid||54.71 x 0|
|Ask||54.72 x 0|
|Day's Range||54.05 - 55.20|
|52 Week Range||46.38 - 76.75|
|Beta (5Y Monthly)||0.87|
|PE Ratio (TTM)||9.01|
|Earnings Date||Aug. 25, 2020 - Aug. 31, 2020|
|Forward Dividend & Yield||3.60 (6.55%)|
|Ex-Dividend Date||Jul. 06, 2020|
|1y Target Est||61.50|
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:Toronto Stock Exchange (15,629.19, up 33.69 points.)The Toronto-Dominion Bank (TSX:TD). Financials. Up eight cents, or 0.13 per cent, to $60.30 on 21.8 million shares.StageZero Life Sciences Ltd. (TSX:SZLS). Health care. Up half a cent, or 9.09 per cent, to six cents on 9 million shares.St. Augustine Gold and Copper (TSX:SAU). Materials. Down 5.5 cents, or 39.29 per cent, to 8.5 cents on 8.3 million shares.Kinross Gold Corp. (TSX:K). Materials. Up 15 cents, or 1.48 per cent, to $10.26 on 6.1 million shares.B2Gold Corp. (TSX:BTO). Materials. Up 19 cents, or 2.4 per cent, to $8.12 on 5.7 million shares.The Bank of Nova Scotia. (TSX:BNS). Financials. Down 22 cents, or 0.4 per cent, to $54.73 on 5.3 million shares.Companies in the news:Transat AT (TSX:TRZ). Down five cents to $5.51. Air Transat is looking to reduce greenhouse gas emissions from its airplanes by using jet fuel made from kerosene in a process that captures carbon dioxide produced by large industrial emitters. The Montreal-based airline has signed an agreement with SAF+ Consortium, which is finalizing the fabrication of a pilot plant in Montreal to make the kerosene. The kerosene is then converted to synthetic jet fuel which is estimated to have an 80 per cent lower carbon footprint than conventional jet fuel. Air Transat says it will buy a significant portion of the future sustainable aviation fuel (SAF) production. SAF + Consortium chief technical officer, Alexandru Iordan, says demand for sustainable aviation fuel will almost double annually for the next 30 years.DavidsTea — DavidsTea is seeking court protection from creditors so it can continue operating while it restructures and plans to close a significant number of its stores. The Montreal-based company said Wednesday it will seek an order in Quebec Superior Court to allow it to restructure under the Companies' Creditors Arrangement Act. It also plans to seek similar orders for its U.S. subsidiary under Chapter 15 of the U.S. Bankruptcy Code. The company said during the restructuring process it plans to continue operating online through davidstea.com and its wholesale distribution channel, which supplies grocery stores and pharmacies. The chain's stores have been shut since March 17 due to the COVID-19 pandemic. It had warned in mid-June that it hadn't paid rent on any of its stores for April, May and June and that it may seek a formal restructuring.This report by The Canadian Press was first published July 8, 2020.The Canadian Press
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Canada's biggest lenders confirmed on Friday they had joined a widespread boycott of Facebook Inc begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech. More than 400 brands have pulled advertising on Facebook in response to the "Stop Hate for Profit" campaign, begun after the death of George Floyd, a Black man who died in police custody in Minneapolis on May 25. Canadian lenders Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, National Bank of Canada and Canadian Imperial Bank of Commerce all said they will pause advertising on Facebook platforms in July.
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Scotiabank launches new Sustainable Finance Group within its Global Banking and Markets division
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SCOTIABANK COMES OUT ON TOP IN THIRD INNOVATION AWARD THIS YEAR TORONTO , June 29, 2020 /CNW/ - Scotiabank has won another award in 2020 for its innovation — the Retail Banking Security Innovation of the ...
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We asked 15 of our Foolish writers for their top large-cap stock picks - their picks include Shopify (TSX:SHOP)(NYSE:SHOP), Canadian Pacific Railway Ltd. (TSX:CP)(NYSE:CP), and Dollarama (TSX:DOL). Click here to see the rest!The post 15 Top TSX Large Caps to Buy in July appeared first on The Motley Fool Canada.
(Bloomberg) -- Fitch Ratings stripped Canada of its AAA status amid a spike in emergency spending for Covid-19, making it the first top-rated country to be downgraded by the ratings agency during the pandemic.The country is expected to run a bigger government deficit this year and emerge from the recession with much higher public debt ratios, Fitch said Wednesday. It cut the country’s rating one notch to AA+.Canada still has a AAA rating with S&P Global Ratings, making it only one of two countries left in the Group of Seven to hold that status; Germany is the other. Moody’s Investors Service also gives Canada its highest rating.“The question is what took so long. Canada’s excessively leveraged national balance sheet has looked a lot like China, Italy and Greece for quite a while,” said David Rosenberg, founder of Rosenberg Research and Associates and former chief North American economist at Merrill Lynch & Co. “This won’t be the last ratings cut, I can assure you.” He had predicted the downgrade in an April research note that said the “Great Canadian Debt Surge has come home to roost.”Canada’s national government is on track to post its largest deficit on record in the 2020-2021 fiscal year. The shortfall may reach about 12% of gross domestic product compared with 1.1% last year, according to the Parliamentary Budget Officer.“Canada continues to be in a stronger financial position than many other countries in the G-7 and G-20,” Finance Minister Bill Morneau said in a statement. “We will continue to be fiscally responsible while acting to protect our country and its economy.”Fitch expects the coronavirus response to raise Canada’s consolidated gross general government debt to 115.1% of GDP in 2020, up from 88.3% last year. “The higher deficit is largely driven by public spending to counteract a sharp fall in output as parts of the economy were shuttered to contain the spread of the coronavirus,” the company said in the report.IndifferentThe Canadian dollar briefly weakened to a session low, hitting C$1.36 per U.S. dollar, before rebounding.Bank of Montreal’s Chief Executive Officer Darryl White shrugged off the news.“The Government of Canada will still have a AAA credit rating by other agencies, I think one of only two G-7 countries that can say that, and there’s plenty of access to capital and the cost of capital relative to other countries and relative to history is very, very low,” he said in an interview on BNN Bloomberg.Derek Holt concurs. “Markets don’t seem to care, rightly so in my view,” said the economist at Bank of Nova Scotia. “Every sovereign is under the same pressure. Ratings are a relative game and even at that there is a long list of more dominant market factors. It’s one agency that stripped Canada of some political bragging rights, but the tangible impact is scant to non-existent.”For Bipan Rai, head of foreign exchange strategy at Canadian Imperial Bank of Commerce, things may get volatile for the loonie if another agency follows. “The question is who’s next to downgrade? If it’s Moody’s, then there is a risk of portfolio outflows,” he added, noting that Canada’s current account deficit is financed heavily by foreign fund inflows.The North American economy is set to contract 7.1% in 2020 compared to 1.6% growth last year, according to median consensus of analysts compiled by Bloomberg. Canada’s government is rolling out a plan of more than C$230 billion ($169 billion) of subsidies, grants and tax deferrals in a bid to offset the impact of the pandemic.Gradually improving global trade, commerce and domestic labor market conditions may allow Canada’s economy to grow 3.9% in 2021, according to Fitch projections. Nonetheless, Canada’s medium-term growth prospects “are limited by structural investment challenges and are below many developed markets peers,” the ratings company said.Who’s Next?“It will take Canada approximately 6-12 months longer to return to 2019 GDP levels than the U.S. or several other developed markets,” said Alexandra Gorewicz, portfolio manager and head of rates at CI Investment. “Fitch partly alluded to this structural issue in their release by highlighting that prior to the pandemic.”The downgrade raises concerns that other top-rated countries such as Australia, which was put on negative outlook by Fitch, may follow suit. After today’s rating action, Fitch has kept its AAA rating for ten countries, of which the U.S. and Germany are part of the Group of Seven economies.“Covid-19 impact on G-7 economies has been quite similar to each other while monetary and fiscal stimulus have also been quite similar and proportionate,” said Imran Chaudhry, a senior portfolio manager at Fiera Capital Corp. “It’ll be interesting to see what Fitch does for other sovereign names such as Australia, Germany and most importantly the U.S.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Find out which three companies I would choose as the foundation of a solid dividend growth portfolio.The post 3 Dividend Aristocrats to Buy and Hold Forever appeared first on The Motley Fool Canada.
TORONTO, June 24, 2020 /CNW/ - Dana Claxton of Vancouver, BC is the winner of the 10th annual Scotiabank Photography Award. As winner of the prestigious Scotiabank Photography Award, Dana will receive a $50,000 cash prize, a solo Primary Exhibition during the 2021 Scotiabank CONTACT Photography Festival, and a book of her work will be published and distributed worldwide by renowned art book publisher, Steidl. "Congratulations to Dana Claxton, whose work shows the powerful way that photography helps people connect with a moment in time," says Barb Mason, Chief Human Resources Officer, Scotiabank.
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Investors may be mulling over top bank stocks like Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) and Bank of Montreal (TSX:BMO)(NYSE:BMO) this summer.The post Better Bank Stock: Scotiabank (TSX:BNS) or Bank of Montreal (TSX:BMO)? appeared first on The Motley Fool Canada.
Bank of Nova Scotia pays a great dividend and offers strong long-term growth potential, but near-term risks can't be ignored. Should you buy the stock?The post Bank of Nova Scotia (TSX:BNS): Should You Buy the Stock if the Market Crashes Again? appeared first on The Motley Fool Canada.
TORONTO , June 23, 2020 /CNW/ - Scotia Global Asset Management today announced the June 2020 cash distributions for the Scotia Strategic ETF Portfolios listed on the TSX, which pay on a monthly or quarterly ...