Macro Bank Inc. (NYSE:BMA) to Issue Dividend Increase – $0.35 Per Share

Macro Bank Inc. (NYSE:BMA) announced a monthly dividend on Friday, November 7th. Investors of record on Monday, November 17th will be paid a dividend of 0.3486 per share by the bank on Monday, November 24th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, November 17th. This is a 14.3% increase from Macro Bank’s previous monthly dividend of $0.31.

Macro Bank has raised its dividend by an average of 0.2%annually over the last three years. Macro Bank has a payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Macro Bank to earn $10.43 per share next year, which means the company should continue to be able to cover its $4.18 annual dividend with an expected future payout ratio of 40.1%.

Macro Bank Price Performance

BMA stock traded down $0.19 during trading on Friday, hitting $82.96. 563,212 shares of the stock traded hands, compared to its average volume of 478,441. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.59 and a beta of 1.57. Macro Bank has a one year low of $38.30 and a one year high of $118.42. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $58.89 and a 200 day simple moving average of $69.06.

Macro Bank (NYSE:BMA) last posted its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.04). The firm had revenue of $834.78 million for the quarter, compared to analyst estimates of $752.51 million. Macro Bank had a return on equity of 10.99% and a net margin of 8.32%. Equities analysts expect that Macro Bank will post 7.84 EPS for the current fiscal year.

About Macro Bank

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.