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

Itau Unibanco has raised its dividend payment by an average of 3.6% per year over the last three years. Itau Unibanco has a dividend payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Itau Unibanco to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.3%.

Itau Unibanco (NYSE:ITUB) traded down $0.09 during midday trading on Wednesday, reaching $12.80. 5,464,800 shares of the company’s stock were exchanged, compared to its average volume of 11,173,648. Itau Unibanco has a 12 month low of $9.10 and a 12 month high of $14.59. The company has a market cap of $80,700.00, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.40 and a beta of 1.58. 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 lowered shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Citigroup lowered shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. BidaskClub lowered shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 23rd. Finally, Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.50.

Itau Unibanco announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 31st that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is 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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