A inventory value graph exhibiting development over timeWritten by Demetris Afxentiou at The Motley Fool CanadaOn the lookout for that excellent inventory? That quest has in all probability gotten so much tougher previously few weeks. Volatility set in, and some shares obtained decimated. Fortunately, there are nonetheless some shares that also have unbelievable worth and may help attain passive earnings and development.In case you’re questioning, that inventory is Bank of Nova Scotia (TSX:BNS)(NYSE:BNS).Why that is the inventory in your portfolioScotiabank is like the opposite large banks. It gives a strong home department community that generates a wholesome income stream. Like its friends, Scotiabank additionally gives a beneficiant dividend and has branched out to ascertain a global income stream.Where Scotiabank differs is the place the financial institution has chosen to speculate internationally.Unlike its friends that opted for the U.S. market, Scotiabank opted to deal with markets additional to the south. Specifically, the financial institution focused the markets of Chile, Columbia, Mexico, and Peru.Those 4 nations are social gathering to a commerce bloc often known as the Pacific Alliance. The Pacific Alliance is charged with growing commerce and eradicating tariffs between its member states. To say that the bloc has been successful could be a gross understatement. More importantly, that development has taken Scotiabank alongside for the journey.That comes due to a well-executed enlargement all through the area. As a end result, Scotiabank has develop into a most popular and acquainted lender throughout the area. This has led to a collection of spectacular quarterly earnings stories.By means of instance, in the latest quarter, Scotiabank reported a web earnings of $2,740 million, or $2.14 per diluted share. In the identical interval final yr, Scotiabank reported a web earnings of $2,398 million, or $1.86 per diluted share.The worldwide phase accounted for $545 million of earnings in the latest quarter in contrast with $389 million in the identical interval final yr. Keep in thoughts that the area is ready to proceed seeing stellar development for years to come back.Story continuesIn different phrases, Scotiabank is a superb development inventory to carry for the long run. Throw in the truth that Scotiabank is down over 12% over the trailing three-month interval and you could have a compelling worth purchase as nicely.Let’s not overlook about incomeWith all that concentrate on development, let’s not overlook the income-producing potential that Scotiabank gives. The financial institution gives an appetizing quarterly dividend that works out to a yield of 4.91%.To put that earnings potential into context, let’s contemplate a $35,000 funding, which can earn a first-year earnings of over $1,700. Investors that aren’t prepared to attract on that earnings but can reinvest these earnings, letting them develop till wanted.Also noteworthy is that Scotiabank has been paying dividends with out fail since 1833. This makes the financial institution one of the crucial steady income-producing investments to personal. Factor within the present discounted worth on the inventory, and it’s an funding that’s arduous to disregard.Final thoughtsCan you attain passive earnings and development from a single inventory? Scotiabank proves that’s attainable. And whereas no inventory is with out danger, the steadiness and long-term potential of Scotiabank is off the charts.In quick, purchase it, maintain it, and watch it develop as a part of your well-diversified portfolio.The publish Attain Passive Income and Growth From 1 Stock appeared first on The Motley Fool Canada.Before you contemplate The Bank of Nova Scotia, we predict you’ll wish to hear this.Our practically S&P/TSX market doubling Stock Advisor Canada crew simply launched their high 10 starter shares for 2022 that we consider could possibly be a springboard for any portfolio.Want to see if The Bank of Nova Scotia made our record? Get began with Stock Advisor Canada right this moment to obtain all 10 of our starter shares, a completely stocked treasure trove of business stories, two brand-new inventory suggestions each month, and way more.See the ten Stocks * Returns as of 4/14/22More studyingFool contributor Demetris Afxentiou has positions in The Bank of Nova Scotia. The Motley Fool recommends BANK OF NOVA SCOTIA. 2022
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Attain Passive Income and Growth From 1 Stock
