Banco Bradesco S.A. (NYSE:BBD) Plans — Dividend of $0.07

Banco Bradesco S.A. (NYSE:BBD) declared a — dividend on Friday, June 7th, Wall Street Journal reports. Stockholders of record on Thursday, June 20th will be given a dividend of 0.0749 per share by the bank on Monday, February 10th. This represents a dividend yield of 6.9%. The ex-dividend date is Thursday, June 20th. This is a positive change from Banco Bradesco’s previous — dividend of $0.00381.

Banco Bradesco has increased its dividend payment by an average of 27.1% per year over the last three years. Banco Bradesco has a payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.48 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 8.3%.

Banco Bradesco Stock Performance

NYSE:BBD opened at $2.42 on Tuesday. Banco Bradesco has a twelve month low of $2.35 and a twelve month high of $3.68. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $2.60 and a 200-day moving average of $2.91. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 0.26 and a beta of 0.99.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, May 2nd. The bank reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $9.64 billion during the quarter. Banco Bradesco had a net margin of 6.70% and a return on equity of 9.55%. Analysts forecast that Banco Bradesco will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price on the stock in a research report on Tuesday, February 20th.

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.