Itau Unibanco Holding S.A. (ITUB) to Issue Monthly Dividend of $0.35 on December 29th

Itau Unibanco Holding S.A. (NYSE:ITUB) announced a monthly dividend on Friday, November 28th. Investors of record on Thursday, December 11th will be given a dividend of 0.3502 per share by the bank on Monday, December 29th. This represents a c) dividend on an annualized basis and a yield of 55.5%. The ex-dividend date of this dividend is Thursday, December 11th. This is a 11,178.4% increase from Itau Unibanco’s previous monthly dividend of $0.003105.

Itau Unibanco has decreased its dividend by an average of 0.1%per year over the last three years. Itau Unibanco has a dividend payout ratio of 461.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Itau Unibanco to earn $0.87 per share next year, which means the company may not be able to cover its $3.78 annual dividend with an expected future payout ratio of 434.5%.

Itau Unibanco Stock Performance

Shares of ITUB opened at $7.58 on Tuesday. The firm has a market cap of $81.67 billion, a P/E ratio of 10.48, a PEG ratio of 1.11 and a beta of 0.67. Itau Unibanco has a twelve month low of $4.42 and a twelve month high of $8.13. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.58 and a current ratio of 1.58. The firm’s 50 day moving average price is $7.35 and its two-hundred day moving average price is $6.96.

Hedge Funds Weigh In On Itau Unibanco

Institutional investors have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd raised its position in Itau Unibanco by 104.3% during the second quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock worth $574,053,000 after acquiring an additional 43,153,787 shares in the last quarter. GQG Partners LLC increased its stake in shares of Itau Unibanco by 738.6% during the 1st quarter. GQG Partners LLC now owns 77,734,889 shares of the bank’s stock worth $427,542,000 after purchasing an additional 68,465,514 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Itau Unibanco by 4.9% in the 3rd quarter. Schroder Investment Management Group now owns 74,529,975 shares of the bank’s stock valued at $546,305,000 after purchasing an additional 3,511,303 shares during the period. Fisher Asset Management LLC lifted its stake in Itau Unibanco by 10.5% in the 2nd quarter. Fisher Asset Management LLC now owns 61,497,171 shares of the bank’s stock valued at $417,566,000 after purchasing an additional 5,828,296 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Itau Unibanco by 9.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 61,131,445 shares of the bank’s stock worth $448,705,000 after purchasing an additional 5,279,282 shares during the period.

About Itau 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.