Banco Bradesco SA (NYSE:BBD) Shareholders to Get $0.07 Special Dividend

Banco Bradesco SA (NYSE:BBD) announced a special dividend on Thursday, October 1st. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.0728 per share by the bank on Monday, May 10th. The ex-dividend date of this dividend is Thursday, October 15th.

Banco Bradesco has increased its dividend by an average of 0.2%annually over the last three years. Banco Bradesco has a payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 3.6%.

Banco Bradesco Stock Up 1.9%

Banco Bradesco stock traded up $0.07 during midday trading on Friday, hitting $3.58. 28,019,578 shares of the company were exchanged, compared to its average volume of 34,615,254. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The company’s fifty day moving average price is $3.39 and its 200-day moving average price is $3.54. The company has a market cap of $37.88 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.54 and a beta of 0.45. Banco Bradesco has a fifty-two week low of $2.98 and a fifty-two week high of $4.30.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $6.77 billion for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. On average, research analysts predict that Banco Bradesco will post 0.5 EPS for the current fiscal year.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.