Itau Unibanco Banco Holding SA (NYSE:ITUB) declared a monthly dividend on Friday, September 15th, Wall Street Journal reports. Shareholders of record on Tuesday, October 3rd will be given a dividend of 0.0048 per share by the bank on Monday, November 13th. This represents a $0.06 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, October 2nd. This is a boost from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00471.

Itau Unibanco Banco Holding SA has raised its dividend by an average of 3.6% per year over the last three years. Itau Unibanco Banco Holding SA has a dividend payout ratio of 5.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itau Unibanco Banco Holding SA to earn $1.11 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 5.4%.

Itau Unibanco Banco Holding SA (NYSE ITUB) opened at 13.97 on Friday. The firm has a market cap of $90.79 billion, a PE ratio of 12.15 and a beta of 1.60. Itau Unibanco Banco Holding SA has a 1-year low of $9.10 and a 1-year high of $14.01. The firm’s 50-day moving average is $12.83 and its 200 day moving average is $12.02.

ITUB has been the subject of a number of research analyst reports. ValuEngine raised Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a report on Friday, May 19th. J P Morgan Chase & Co cut Itau Unibanco Banco Holding SA from an “overweight” rating to a “neutral” rating and set a $12.50 price target for the company. in a report on Wednesday, July 12th. Finally, Citigroup Inc. cut Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Itau Unibanco Banco Holding SA presently has an average rating of “Hold” and an average target price of $13.25.

Itau Unibanco Banco Holding SA declared that its board has initiated a share buyback plan on Thursday, August 31st that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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About Itau Unibanco Banco Holding SA

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 Banco Holding SA (NYSE:ITUB)

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