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

Key Points

• Banco Bradesco declared a monthly dividend of $0.0037 per share, payable November 10 to shareholders of record October 5. The payment implies an annualized yield of approximately 1.3%.
• The dividend appears well covered, with a payout ratio of 4.9%; analysts expect earnings of $0.56 per share next year versus approximately $0.02 in annual dividends.
• Banco Bradesco shares rose 3.8% to $3.56 during Thursday trading. The bank reported quarterly EPS of $0.12 on $6.77 billion in revenue.

Banco Bradesco SA (NYSE:BBD - Get Free Report) declared a monthly dividend on Wednesday, September 9th. Shareholders of record on Monday, October 5th will be given a dividend of 0.0037 per share by the bank on Tuesday, November 10th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, October 5th.

Banco Bradesco has raised its dividend payment by an average of 0.2%per year over the last three years. Banco Bradesco has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Banco Bradesco to earn $0.56 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 3.6%.

Banco Bradesco Stock Up 3.8%

NYSE:BBD traded up $0.13 during trading hours on Thursday, hitting $3.56. 24,172,413 shares of the stock traded hands, compared to its average volume of 35,243,645. Banco Bradesco has a fifty-two week low of $2.98 and a fifty-two week high of $4.30. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The firm has a market cap of $37.75 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.43 and a beta of 0.52. The firm has a 50 day moving average price of $3.42 and a 200 day moving average price of $3.59.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Equities research analysts anticipate that Banco Bradesco will post 0.5 earnings per share for the current year.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.

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