Banco Bradesco S.A. (NYSE:BBD) Plans — Dividend of $0.04

Banco Bradesco S.A. (NYSE:BBD) announced a — dividend on Monday, December 23rd,Wall Street Journal reports. Shareholders of record on Friday, January 3rd will be paid a dividend of 0.0362 per share by the bank on Monday, August 11th. This represents a yield of 6.2%. The ex-dividend date is Friday, January 3rd.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.40 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 10.0%.

Banco Bradesco Stock Performance

Shares of NYSE:BBD traded down $0.03 during mid-day trading on Monday, reaching $1.90. 19,863,627 shares of the company traded hands, compared to its average volume of 23,540,424. The company’s 50 day moving average price is $2.33 and its 200-day moving average price is $2.46. The firm has a market cap of $20.22 billion, a PE ratio of 7.31, a PEG ratio of 0.32 and a beta of 0.94. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $3.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. On average, equities analysts expect that Banco Bradesco will post 0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

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.