Itau Unibanco Holding SA (NYSE:ITUB) announced a monthly dividend on Friday, October 16th, Wall Street Journal reports. Investors of record on Tuesday, November 3rd will be paid a dividend of 0.0027 per share by the bank on Friday, December 11th. This represents a $0.03 annualized dividend and a yield of 0.79%. The ex-dividend date is Monday, November 2nd.
Itau Unibanco has raised its dividend payment by 141.6% over the last three years. Itau Unibanco has a dividend payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Itau Unibanco to earn $0.47 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 6.4%.
Shares of NYSE ITUB opened at $4.08 on Friday. Itau Unibanco has a one year low of $3.48 and a one year high of $9.40. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a fifty day moving average of $4.29 and a 200 day moving average of $4.53. The firm has a market cap of $39.75 billion, a PE ratio of 8.16 and a beta of 0.73.
Separately, ValuEngine cut shares of Itau Unibanco from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Itau Unibanco presently has an average rating of “Hold” and an average target price of $5.83.
About Itau Unibanco
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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