Itaú Unibanco Holding S.A. (NYSE:ITUB – Get Free Report) announced a monthly dividend on Monday, May 6th, Zacks reports. Stockholders of record on Tuesday, June 4th will be given 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 of this dividend 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 ITUB stock traded up $0.03 on Wednesday, hitting $6.56. The stock had a trading volume of 6,029,240 shares, compared to its average volume of 17,124,729. The company’s 50 day moving average price is $6.58 and its 200-day moving average price is $6.52. Itaú Unibanco has a 1 year low of $5.08 and a 1 year 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.
Analyst Upgrades and Downgrades
Separately, Bank of America upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, January 16th.
Check Out Our Latest Stock Report on Itaú Unibanco
About Itaú Unibanco
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.
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