Banco Bradesco S.A. (NYSE:BBD) Announces $0.00 Monthly Dividend

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Tuesday, April 16th, Wall Street Journal reports. Stockholders of record on Monday, May 6th will be paid a dividend of 0.0036 per share by the bank on Monday, June 10th. This represents a $0.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, May 3rd.

Banco Bradesco has increased its dividend payment by an average of 27.1% annually over the last three years. Banco Bradesco has a payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Banco Bradesco to earn $0.49 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 8.2%.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock opened at $2.73 on Thursday. The stock’s fifty day moving average is $2.79 and its 200-day moving average is $3.03. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.84. Banco Bradesco has a 12-month low of $2.60 and a 12-month high of $3.68.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. HSBC lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target on the stock in a research report on Tuesday, February 20th. Finally, Jefferies Financial Group lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

About Banco Bradesco

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.