Itau Unibanco Holding SA (NYSE:ITUB) declared a monthly dividend on Friday, February 9th, Wall Street Journal reports. Shareholders of record on Friday, March 2nd will be paid a dividend of 0.0046 per share by the bank on Thursday, April 12th. This represents a $0.05 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, March 1st.

Itau Unibanco has decreased its dividend payment by an average of 9.7% per year over the last three years. Itau Unibanco has a payout ratio of 4.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Itau Unibanco to earn $1.22 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 4.1%.

Itau Unibanco (ITUB) opened at $15.47 on Friday. The stock has a market capitalization of $98,406.90, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.79. Itau Unibanco has a one year low of $10.02 and a one year high of $16.98. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.66 and a current ratio of 1.66.

A number of brokerages have issued reports on ITUB. ValuEngine upgraded Itau Unibanco from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub cut Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, Deutsche Bank upgraded Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.25.

Itau Unibanco declared that its Board of Directors has initiated a share buyback plan on Monday, December 18th that authorizes the company to buyback 28,620,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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About Itau Unibanco

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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