Categories: Dividends

Battered Brazilian Bank Still Offers 8.66 Percent Yield

Battered Brazilian Bank Still Offers 8.66 Percent Yield (24/7WallStreet)

Brazil has taken a beating this year, at a time when it was supposed to shine. The 2014 World Cup will focus billions of eyes on the country, and what they see won’t be pretty. The country’s benchmark BOVESPA Index is down about 12.3 percent for the year, Inflation is nearly 6 percent a year, amid one of the worst droughts in 40 years. Interest rates stand at an eye-popping 10.75 percent, and taxes are high. Yet Banco Bradesco (BBD), the country’s largest bank, is still paying a monthly dividend with an 8.66 percent yield. If BBD can maintain its dividend in this climate, what’ll it do when millions of people and dollars flood the country for the World Cup? It is worth keeping an eye on, don’t you think?

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Wayne Ellis

Wayne Ellis has been involved in the financial publishing industry for more than 15 years. During that time, he has helped to edit, to market and to launch products and services for Ernst & Young, LLC, Fidelity Investments, Agora, LLC, and Eagle Financial Publications. He currently puts his broad-based experience and industry expertise to use as a contributing writer for Eagle Financial Publications. He also is a graduate of Arizona State University.