Itau Unibanco Holding SA (ITUB) to Issue Special Dividend of $0.04

Itau Unibanco Holding SA (NYSE:ITUB) declared a special dividend on Thursday, February 8th, Wall Street Journal reports. Investors of record on Tuesday, February 20th will be given a dividend of 0.0447 per share by the bank on Saturday, May 19th. This represents a dividend yield of 0.37%. The ex-dividend date is Friday, February 16th.

Itau Unibanco has decreased its dividend by an average of 9.7% annually over the last three years. Itau Unibanco has a payout ratio of 4.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Itau Unibanco to earn $1.22 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 4.1%.

Itau Unibanco (ITUB) opened at $15.47 on Friday. Itau Unibanco has a 1 year low of $10.02 and a 1 year high of $16.98. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $100,751.48, a PE ratio of 13.45, a P/E/G ratio of 1.67 and a beta of 1.79.

Several research analysts recently weighed in on ITUB shares. ValuEngine downgraded shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 27th. BidaskClub cut shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. Deutsche Bank raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, December 11th. Finally, Zacks Investment Research cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Itau Unibanco presently has a consensus rating of “Hold” and an average price target of $14.25.

Itau Unibanco declared that its board has authorized a stock repurchase program on Monday, December 18th that authorizes the company to buyback 28,620,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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About Itau Unibanco

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

Dividend History for Itau Unibanco (NYSE:ITUB)

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