Itaú Unibanco Holding S.A. (NYSE:ITUB) Announces Variable Dividend of $0.05

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

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 4.6% indicating that its dividend is sufficiently covered by earnings. 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 1.5 %

Shares of Itaú Unibanco stock opened at $5.98 on Friday. The firm’s 50-day moving average is $6.15 and its 200 day moving average is $6.55. Itaú Unibanco has a 1 year low of $5.12 and a 1 year high of $7.27. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.37.

Itaú Unibanco (NYSE:ITUB) last released its earnings results on Monday, May 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.34 billion. Itaú Unibanco had a net margin of 11.09% and a return on equity of 18.73%. As a group, equities analysts anticipate that Itaú Unibanco will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.