Earning $2,800 Per Year Passively From This Unpopular Canadian Bank Stock

Canada's big banks are reliable long-term investments known for stable dividends.

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Bank of Nova Scotia (Scotiabank) is currently trading at a discounted valuation with shares down 12% over the past year.

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The stock now boasts an eye-popping 6.95% dividend yield.

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Scotiabank has focused expansion efforts on Latin American countries, providing new growth avenues.

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Emerging markets bring higher risk but also greater growth potential over the long term.

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A $40,000 investment in Scotiabank at the current stock price would generate about $2,800 in dividend income per year.

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Scotiabank routinely increases its dividend payout, so income will steadily rise over time.

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Reinvesting dividends could turbocharge total returns through the power of compounding.

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With its huge yield and growth prospects, Scotiabank is a timely opportunity for investors seeking reliable, growing dividend income.

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