Itau Unibanco Holding SA (NYSE:ITUB) declared a special dividend on Wednesday, December 6th, Wall Street Journal reports. Stockholders of record on Monday, December 18th will be paid a dividend of 0.0447 per share by the bank on Thursday, May 10th. This represents a dividend yield of 0.42%. The ex-dividend date is Friday, December 15th.

Itau Unibanco has increased its dividend by an average of 3.6% per year over the last three years. Itau Unibanco has a dividend payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Itau Unibanco to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.3%.

Shares of Itau Unibanco (NYSE ITUB) traded up $0.14 during mid-day trading on Thursday, hitting $12.94. The stock had a trading volume of 6,596,400 shares, compared to its average volume of 11,154,171. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.57. The firm has a market cap of $83,362.56, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.39 and a beta of 1.58. Itau Unibanco has a twelve month low of $9.10 and a twelve month high of $14.59.

Several research analysts have recently weighed in on ITUB shares. ValuEngine downgraded Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. BidaskClub downgraded Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. Citigroup downgraded Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research downgraded Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.50.

Itau Unibanco declared that its Board of Directors has authorized a stock buyback program on Thursday, August 31st that allows the company to buyback 60,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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Itau Unibanco Company Profile

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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