Telefonica Brasil SA (NYSE:VIV) Raises Dividend to $0.23 Per Share

Telefonica Brasil SA (NYSE:VIV) announced a dividend on Friday, December 15th, NASDAQ reports. Shareholders of record on Thursday, December 28th will be paid a dividend of 0.231 per share by the Wireless communications provider on Thursday, December 28th. The ex-dividend date of this dividend is Wednesday, December 27th. This is an increase from Telefonica Brasil’s previous dividend of $0.05.

Telefonica Brasil has decreased its dividend payment by an average of 12.4% annually over the last three years and has raised its dividend every year for the last 5 years.

Telefonica Brasil (NYSE:VIV) traded up $0.38 during trading hours on Friday, hitting $15.72. The stock had a trading volume of 1,007,780 shares, compared to its average volume of 1,007,199. The stock has a market capitalization of $25,904.57, a price-to-earnings ratio of 19.65, a PEG ratio of 1.13 and a beta of 1.36. Telefonica Brasil has a 52-week low of $13.06 and a 52-week high of $16.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 0.96.

A number of analysts have recently weighed in on the company. Zacks Investment Research raised Telefonica Brasil from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Saturday. Barclays increased their price objective on Telefonica Brasil from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, October 16th. Royal Bank of Canada reissued a “hold” rating and set a $15.60 price objective on shares of Telefonica Brasil in a research note on Thursday, November 2nd. Finally, Santander lowered Telefonica Brasil from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Telefonica Brasil currently has an average rating of “Buy” and an average target price of $16.28.

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Telefonica Brasil Company Profile

Telefonica Brasil SA is a mobile telecommunications company in Brazil offering postpaid mobile services. The Company also operates as a fixed telecommunications company in the state of Sao Paulo. The Company markets its mobile services under its Vivo brand. It offers its clients a portfolio of products, including mobile and fixed voice, mobile data, fixed broadband, ultra-fast broadband, Pay television, information technology and digital services.

Dividend History for Telefonica Brasil (NYSE:VIV)

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