Banco Bradesco S.A. (NYSE:BBD) Plans Dividend Increase - $0.04 Per Share

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) declared a monthly dividend on Friday, March 21st, Wall Street Journal reports. Investors of record on Wednesday, April 2nd will be paid a dividend of 0.0398 per share by the bank on Friday, November 7th. This represents a $0.48 annualized dividend and a yield of 21.93%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a 1,093.7% increase from Banco Bradesco's previous monthly dividend of $0.00333.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.43 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 9.3%.

Banco Bradesco Price Performance

Shares of NYSE BBD traded down $0.12 during mid-day trading on Friday, hitting $2.18. 26,823,198 shares of the stock traded hands, compared to its average volume of 30,738,478. The company has a market cap of $23.15 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.32 and a beta of 0.56. Banco Bradesco has a twelve month low of $1.84 and a twelve month high of $2.98. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $2.24.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, equities research analysts forecast that Banco Bradesco will post 0.37 EPS for the current fiscal year.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BBD shares. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price on the stock in a report on Monday, January 13th. The Goldman Sachs Group cut shares of Banco Bradesco from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th.

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.