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

Banco Bradesco S.A. (NYSE:BBD) announced a Variable dividend on Friday, September 20th, NASDAQ reports. Stockholders 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 payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of Banco Bradesco stock opened at $2.67 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $28.40 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.29 and a beta of 0.98. The firm has a fifty day moving average price of $2.65 and a two-hundred day moving average price of $2.59. Banco Bradesco has a fifty-two week low of $2.16 and a fifty-two week high of $3.65.

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

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2.50 to $3.20 in a research note 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.