Banco Bradesco SA to Issue Monthly Dividend of $0.00 (NYSE:BBD)

Key Points

• Banco Bradesco declared a monthly dividend of $0.0037 per share, payable on September 9 to shareholders of record on August 5. The ex-dividend date is also August 5.
• The dividend implies an annualized yield of about 1.2%, and the bank’s payout ratio of 19.5% suggests the dividend is well covered by earnings.
• Analysts remain constructive on the stock, with two Buy ratings and an average rating of “Buy”, while the shares were trading slightly higher at $3.63.

Banco Bradesco SA (NYSE:BBD - Get Free Report) declared a monthly dividend on Tuesday, July 14th. Investors of record on Wednesday, August 5th will be paid a dividend of 0.0037 per share by the bank on Wednesday, September 9th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th.

Banco Bradesco has increased its dividend by an average of 0.2%annually over the last three years. Banco Bradesco has a dividend payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banco Bradesco to earn $0.57 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 14.0%.

Banco Bradesco Trading Up 0.1%

NYSE:BBD traded up $0.01 on Wednesday, hitting $3.63. 19,241,811 shares of the stock were exchanged, compared to its average volume of 36,834,293. The stock has a market cap of $38.52 billion, a PE ratio of 9.32, a PEG ratio of 0.45 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. The stock has a fifty day moving average of $3.49 and a 200-day moving average of $3.69. Banco Bradesco has a fifty-two week low of $2.73 and a fifty-two week high of $4.30.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%.The firm had revenue of $1.50 billion for the quarter. As a group, equities analysts expect that Banco Bradesco will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b-)" rating on shares of Banco Bradesco in a report on Friday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy".

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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