If You Invested $1,000 In Bank Of Nova Scotia On April 30, 2004, Here's How Much You'd Have Today

Scotiabank, officially known as The Bank of Nova Scotia, is a leading international bank headquartered in Toronto. 

Renowned for its global presence, especially in Latin America, the Caribbean, Central America and Asia-Pacific, Scotiabank offers a range of services, including personal and commercial banking, wealth management and investment banking.

Another thing that Scotiabank offers is a strong history of stock returns. 

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What Happened On April 29, 2004?

Scotiabank was listed on the New York Stock Exchange on June 7, 2002. Roughly two years later, the stock underwent its first and only split. One share bought before April 29, 2004, would equal two shares today.

For the sake of this article, compare the stock price on the following day — April 30, 2004 — to where it's trading today. 

On April 30, 2004, the stock closed at $10.11 per share. On Dec. 5, 2023, it closed at $44.34.

From April 30, 2004, to Dec. 5, 2023, the stock price surged from $10.11 to $44.34, marking an increase of 338.58%. This translates to a dollar gain of $34.23 per share. 

If an investor purchased Scotiabank shares with $1,000 in 2004, they would have been able to acquire about 98.91 shares. Fast forward to 2023, this investment would be worth approximately $4,385.76. That's the type of growth investors dream of. 

The main takeaway from this article is that investing and holding long term can result in serious growth. 

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