Itaú Unibanco Holding S.A. (NYSE:ITUB) Increases Dividend to $0.05 Per Share

Itaú Unibanco Holding S.A. (NYSE:ITUBGet Free Report) declared a Variable dividend on Friday, June 7th, NASDAQ reports. Shareholders of record on Monday, June 24th will be given a dividend of 0.0478 per share by the bank on Monday, September 9th. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from Itaú Unibanco’s previous Variable dividend of $0.0035594.

Itaú Unibanco has raised its dividend by an average of 26.3% annually over the last three years. Itaú Unibanco has a payout ratio of 4.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Itaú Unibanco to earn $0.89 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 1.2 %

Itaú Unibanco stock opened at $5.96 on Friday. The business has a 50 day moving average price of $6.15 and a two-hundred day moving average price of $6.55. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 2.37. Itaú Unibanco has a 12 month low of $5.12 and a 12 month high of $7.27.

Itaú Unibanco (NYSE:ITUBGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The bank reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. Itaú Unibanco had a return on equity of 18.73% and a net margin of 11.09%. The firm had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.34 billion. Equities research analysts predict that Itaú Unibanco will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th.

View Our Latest Research Report on Itaú Unibanco

About Itaú Unibanco

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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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Dividend History for Itaú Unibanco (NYSE:ITUB)

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