Banco Bradesco S.A. (BBD) to Issue Monthly Dividend of $0.00 on June 10th

Banco Bradesco S.A. (NYSE:BBD) declared 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 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, May 3rd.

Banco Bradesco has increased its dividend by an average of 27.1% per year 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 $0.37 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 10.8%.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $2.70 on Wednesday. The company’s fifty day simple moving average is $2.79 and its 200-day simple moving average is $3.03. Banco Bradesco has a 52 week low of $2.60 and a 52 week high of $3.68. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84. The company has a market cap of $28.72 billion, a PE ratio of 12.83 and a beta of 0.95.

Analyst Ratings Changes

BBD has been the topic of a number of research reports. 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 note on Tuesday, February 20th. Jefferies Financial Group downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, HSBC downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th.

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.