Itau Unibanco Holding SA (NYSE:ITUB) announced a special dividend on Wednesday, December 6th, Wall Street Journal reports. Stockholders of record on Monday, December 18th will be paid a dividend of 0.0447 per share by the bank on Thursday, May 10th. This represents a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, December 15th.

Itau Unibanco has increased its dividend by an average of 3.6% annually over the last three years. Itau Unibanco has a payout ratio of 4.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Itau Unibanco to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 4.4%.

Shares of Itau Unibanco (ITUB) opened at $12.57 on Thursday. The firm has a market cap of $86,097.90, a P/E ratio of 11.40, a PEG ratio of 1.44 and a beta of 1.58. Itau Unibanco has a one year low of $9.10 and a one year high of $14.59. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.57.

Several analysts recently commented on ITUB shares. ValuEngine raised shares of Itau Unibanco from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Citigroup lowered shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. Deutsche Bank raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday. Finally, BidaskClub lowered shares of Itau Unibanco from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Itau Unibanco has a consensus rating of “Hold” and a consensus price target of $14.25.

Itau Unibanco announced that its Board of Directors has authorized a share repurchase program on Thursday, August 31st that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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Itau Unibanco Company Profile

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

Dividend History for Itau Unibanco (NYSE:ITUB)

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