Telefônica Brasil S.A. (NYSE:VIV) Raises Dividend to $0.06 Per Share

Telefônica Brasil S.A. (NYSE:VIV) announced a — dividend on Monday, July 22nd, Wall Street Journal reports. Stockholders of record on Friday, January 1st will be paid a dividend of 0.0617 per share by the Wireless communications provider on Monday, July 29th. This represents a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, July 29th. This is an increase from Telefônica Brasil’s previous — dividend of $0.02.

Telefônica Brasil has increased its dividend payment by an average of 9.2% per year over the last three years.

Telefônica Brasil Stock Performance

Shares of VIV opened at $8.62 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.01 and a quick ratio of 0.97. The firm’s 50 day moving average is $8.55 and its 200-day moving average is $9.58. Telefônica Brasil has a 12-month low of $8.02 and a 12-month high of $11.43. The stock has a market capitalization of $14.34 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.79 and a beta of 0.79.

Telefônica Brasil (NYSE:VIV) last issued its earnings results on Tuesday, May 7th. The Wireless communications provider reported $0.11 earnings per share for the quarter. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Telefônica Brasil had a net margin of 9.63% and a return on equity of 7.39%. Equities research analysts anticipate that Telefônica Brasil will post 0.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VIV shares. Morgan Stanley upgraded Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 11th. Barclays decreased their price target on Telefônica Brasil from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.35.

About Telefônica Brasil

Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company in Brazil. Its fixed line services portfolio includes local, domestic long-distance, and international long-distance calls; and mobile portfolio comprises voice and broadband internet access through 3G, 4G, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.