Itaú Unibanco Holding S.A. (NYSE:ITUB – Get Free Report) 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.
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.
Read Our Latest Report on Itaú Unibanco
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.
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