Banco Bradesco S.A. (NYSE:BBD) Declares Variable Dividend of $0.04

Banco Bradesco S.A. (NYSE:BBD) declared a Variable dividend on Friday, September 20th, NASDAQ reports. Shareholders of record on Wednesday, October 2nd will be given a dividend of 0.0359 per share by the bank on Wednesday, May 7th. This represents a yield of 7.5%. The ex-dividend date is Wednesday, October 2nd. This is a boost from Banco Bradesco’s previous Variable dividend of $0.003.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 $2.73 on Monday. The firm has a market capitalization of $29.10 billion, a PE ratio of 11.78, a PEG ratio of 0.29 and a beta of 0.98. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. Banco Bradesco has a 1-year low of $2.16 and a 1-year high of $3.65. The business’s 50 day moving average is $2.64 and its 200-day moving average is $2.59.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The firm had revenue of $9.64 billion for the quarter, compared to the consensus estimate of $5.47 billion. Sell-side analysts predict that Banco Bradesco will post 0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and upped their target price for the company 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.