Banco Bradesco S.A. (NYSE:BBD) to Issue Dividend Increase – $0.04 Per Share

Banco Bradesco S.A. (NYSE:BBD) announced a Variable dividend on Friday, September 20th, NASDAQ reports. Investors of record on Wednesday, October 2nd will be paid a dividend of 0.0359 per share by the bank on Wednesday, May 7th. This represents a dividend yield of 7.5%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a boost from Banco Bradesco’s previous Variable dividend of $0.003.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banco Bradesco to earn $0.47 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 8.5%.

Banco Bradesco Stock Down 1.7 %

Shares of NYSE BBD opened at $2.67 on Tuesday. Banco Bradesco has a 52-week low of $2.16 and a 52-week high of $3.65. The stock has a market cap of $28.40 billion, a P/E ratio of 11.59, a P/E/G ratio of 0.29 and a beta of 0.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50 day moving average price of $2.65 and a 200 day moving average price of $2.59.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The firm had revenue of $9.64 billion for the quarter, compared to analyst estimates of $5.47 billion. Analysts expect that Banco Bradesco will post 0.35 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2.50 to $3.20 in a research report on Monday, August 19th.

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.