Itaú Unibanco Holding S.A. (NYSE:ITUB) Announces Monthly Dividend of $0.00

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a monthly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Tuesday, November 12th will be given a dividend of 0.003 per share by the bank on Monday, December 9th. This represents a $0.04 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, November 12th.

Itaú Unibanco has increased its dividend by an average of 26.3% annually over the last three years. Itaú Unibanco has a payout ratio of 4.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE ITUB traded down $0.01 on Friday, hitting $6.04. 3,682,560 shares of the company’s stock traded hands, compared to its average volume of 17,760,758. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. Itaú Unibanco has a 1-year low of $5.47 and a 1-year high of $7.27. The firm’s 50-day moving average price is $6.47 and its two-hundred day moving average price is $6.27. The firm has a market capitalization of $59.20 billion, a PE ratio of 7.95, a P/E/G ratio of 0.79 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The firm had revenue of $16.54 billion during the quarter, compared to analysts’ expectations of $7.72 billion. During the same period in the previous year, the business posted $0.18 EPS. As a group, analysts expect that Itaú Unibanco will post 0.78 EPS for the current year.

Wall Street Analyst Weigh In

Separately, UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd.

Itaú Unibanco Company Profile

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.