Banco Bradesco SA (NYSE:BBD) Declares Special Dividend of $0.07

Banco Bradesco SA (NYSE:BBD) declared a special dividend on Thursday, October 1st. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.0728 per share by the bank on Monday, May 10th. The ex-dividend date is Thursday, October 15th.

Banco Bradesco has raised its dividend by an average of 0.2%annually over the last three years. Banco Bradesco has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Banco Bradesco to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 3.6%.

Banco Bradesco Trading Up 2.4%

Shares of Banco Bradesco stock traded up $0.09 during trading on Friday, reaching $3.60. The company’s stock had a trading volume of 29,992,982 shares, compared to its average volume of 34,623,898. The firm’s 50-day moving average is $3.39 and its two-hundred day moving average is $3.54. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. Banco Bradesco has a 52-week low of $2.98 and a 52-week high of $4.30. The company has a market cap of $38.10 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 0.54 and a beta of 0.45.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%.The firm had revenue of $6.77 billion for the quarter. On average, sell-side analysts anticipate that Banco Bradesco will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.