Banco Santander Brasil SA (NYSE:BSBR) to Issue $0.10 Special Dividend

Banco Santander Brasil SA (NYSE:BSBR) declared a special dividend on Monday, January 12th. Investors of record on Thursday, January 22nd will be paid a dividend of 0.1001 per share by the bank on Wednesday, February 18th. The ex-dividend date of this dividend is Thursday, January 22nd.

Banco Santander Brasil has decreased its dividend by an average of 0.2%annually over the last three years. Banco Santander Brasil has a payout ratio of 9.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Banco Santander Brasil to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 11.3%.

Banco Santander Brasil Stock Down 1.0%

BSBR traded down $0.07 during trading on Tuesday, hitting $6.24. 481,099 shares of the stock traded hands, compared to its average volume of 547,937. Banco Santander Brasil has a 12-month low of $3.98 and a 12-month high of $6.59. The firm has a 50-day moving average of $6.16 and a 200 day moving average of $5.55. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.13.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. The Goldman Sachs Group lowered shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Santander Brasil in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Banco Santander Brasil from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.70.

Banco Santander Brasil Company Profile

Banco Santander Brasil SA is the Brazilian unit of Spain-based Grupo Santander and one of the country’s major commercial banks. Headquartered in São Paulo, the bank serves a broad client base across Brazil through an integrated network of branches, ATMs and digital channels. Its shares are represented abroad via American Depositary Shares listed on the New York Stock Exchange under the ticker BSBR.

The bank offers a full range of financial products and services for retail, small and medium-sized enterprises, and corporate clients.