Itaú Unibanco Holding S.A. (NYSE:ITUB) Increases Dividend to $0.05 Per Share

Itaú Unibanco Holding S.A. (NYSE:ITUB) declared a Variable dividend on Friday, June 7th, NASDAQ reports. Stockholders of record on Monday, June 24th will be paid a dividend of 0.0478 per share by the bank on Monday, September 9th. The ex-dividend date is Monday, June 24th. This is a boost from Itaú Unibanco’s previous Variable dividend of $0.0035594.

Itaú Unibanco has raised its dividend by an average of 26.3% per year over the last three years. Itaú Unibanco has a payout ratio of 4.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Itaú Unibanco to earn $0.89 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 4.5%.

Itaú Unibanco Trading Up 1.5 %

Shares of Itaú Unibanco stock opened at $5.98 on Friday. The company has a fifty day simple moving average of $6.15 and a 200-day simple moving average of $6.55. Itaú Unibanco has a 12-month low of $5.12 and a 12-month high of $7.27. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.54 and a current ratio of 1.54.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Monday, May 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Itaú Unibanco had a net margin of 11.09% and a return on equity of 18.73%. The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.34 billion. As a group, equities analysts expect that Itaú Unibanco will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th.

About Itaú Unibanco

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.