Mkango Resources Limited Announces TR-1: Notification of Major Holdings
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SOURCE: Mkango Resources Ltd.
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Key Points Bank of Nova Scotia is one of Canada's largest banks. The bank is revamping its approach to growth. The dividend was just increased after a brief pause. 10 stocks we like better than Bank Of Nova Scotia › I have owned Bank of Nova Scotia (NYSE: BNS) for a number of years now. In fact, I recently added to my position in the Canadian financial giant. Here are the big things I'm watching with this high-yield dividend stock and why I'm positive enough about the future to have bought more shares. Bank of Nova Scotia dances to its own drummer The core of Bank of Nova Scotia's business is its large Canadian banking operation. Scotiabank, as it is more commonly known, is one of a handful of Canadian giants that, basically, have protected positions in the market because of the country's strict regulatory regime. Canadian banking rules have also led to a generally conservative ethos at Scotiabank and its main rivals. Canada provides a solid business foundation. But Canada is a mature market and all of the major banks have looked outside the country for growth. Most chose to expand South in the United States. Scotiabank chose to largely skip the U.S. market and focus on Central and South America. That plan, while clearly differentiating the business, didn't work out as well as hoped. Management has now updated the approach, which is the first big thing I'm watching. Essentially, Scotiabank is exiting less desirable countries and refocusing around countries where it has better prospects. That includes a push to increase its U.S. exposure, which it jump-started by acquiring a nearly 15% stake in KeyCorp (NYSE: KEY). A few quick partnerships, meanwhile, have materially reduced its exposure to less desirable markets in Central and South America. The big goal right now is to create a business that spans from Mexico, through the United States, and on into Canada. That's basically the three most important trading partners in the Americas. 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