Banco Bradesco S.A. (BBD) to Issue Monthly Dividend of $0.00 on October 8th

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Thursday, August 15th, Wall Street Journal reports. Stockholders of record on Wednesday, September 4th will be given a dividend of 0.0035 per share by the bank on Tuesday, October 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, September 4th.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities 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 NYSE BBD opened at $2.78 on Monday. Banco Bradesco has a twelve month low of $2.16 and a twelve month high of $3.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day moving average of $2.45 and a 200 day moving average of $2.60.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The firm had revenue of $9.64 billion for the quarter, compared to the consensus estimate of $5.47 billion. As a group, equities research analysts predict that Banco Bradesco will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Company Profile

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.