Itaú Unibanco Holding S.A. (NYSE:ITUB) to Issue $0.00 Monthly Dividend

Itaú Unibanco Holding S.A. (NYSE:ITUB) declared a monthly dividend on Monday, May 6th, Zacks reports. Shareholders of record on Tuesday, June 4th will be paid a dividend of 0.003 per share by the bank on Tuesday, July 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Tuesday, June 4th.

Itaú Unibanco has increased its dividend payment by an average of 26.3% annually over the last three years. Itaú Unibanco has a payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itaú Unibanco to earn $0.88 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 0.5 %

Shares of NYSE:ITUB traded up $0.03 during trading on Wednesday, reaching $6.56. 5,207,992 shares of the company’s stock traded hands, compared to its average volume of 17,114,973. Itaú Unibanco has a fifty-two week low of $5.08 and a fifty-two week high of $7.27. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50-day simple moving average of $6.58 and a 200-day simple moving average of $6.52.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Monday, February 5th. The bank reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. Itaú Unibanco had a return on equity of 17.76% and a net margin of 10.48%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $8.05 billion. On average, equities research analysts predict that Itaú Unibanco will post 0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Tuesday, January 16th.

Itaú Unibanco Company Profile

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.