Banco Bradesco SA Declares Special Dividend of $0.06 (NYSE:BBD)

Key Points

• Banco Bradesco SA has declared a special dividend of $0.06, with a dividend yield of 430%, to be paid on May 11th to stockholders of record by October 1st.
• The bank reported earnings of $0.10 per share for the last quarter, matching analysts' expectations, and has a net margin of 9.76% and return on equity of 12.96%.
• Banco Bradesco has a low payout ratio of 9.8%, indicating that its dividend is well-covered by earnings and analysts expect it to maintain a similar ratio of 9.3% in the upcoming year.

Banco Bradesco SA (NYSE:BBD - Get Free Report) announced a special dividend on Friday, September 19th. Stockholders of record on Wednesday, October 1st will be paid a dividend of 0.0558 per share by the bank on Monday, May 11th. This represents a dividend yield of 430.0%. The ex-dividend date of this dividend is Wednesday, October 1st.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banco Bradesco to earn $0.43 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 9.3%.

Banco Bradesco Stock Up 0.9%

Banco Bradesco stock opened at $3.30 on Monday. Banco Bradesco has a 1-year low of $1.84 and a 1-year high of $3.41. The firm has a market capitalization of $35.12 billion, a price-to-earnings ratio of 9.43, a P/E/G ratio of 0.45 and a beta of 0.76. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $3.02 and a 200 day simple moving average of $2.76.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $32.70 billion. On average, analysts predict that Banco Bradesco will post 0.37 earnings per share for the current year.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.

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