Banks are a necessity in today’s world, with some proving more resilient than others during economic downturns. Bank of Nova Scotia offers an ultra-high dividend yield, making it an attractive investment option for those looking to maximize dividend income. The Canadian bank competes with giants like Bank of America and Citigroup, providing basic services along with wealth management and investment banking.

Scotiabank, known for its conservative ethos, has paid dividends consistently since 1833, with a current yield of 5.7%. The bank’s focus on foreign markets for growth, particularly in Central and South America, has led to a shift in strategy. While the dividend was not increased in 2024 due to market challenges, Scotiabank has resumed dividend growth in 2025, showcasing confidence in its turnaround efforts.

A $10,000 investment in Scotiabank offers a high dividend yield and access to a well-run bank with growth potential. While the transition process is ongoing, the bank’s progress indicates a low-risk investment opportunity with attractive returns. Consider the analyst team’s top 10 stock picks for potential high returns, excluding Bank of Nova Scotia.

Read more at Yahoo Finance: The Best Ultra-High-Yield Bank Stock to Invest $10,000 in Right Now