SÃO PAULO, July 2, 2026, 10:05 BRT
- B3 traded on the usual São Paulo schedule, with Bovespa’s regular session running from 10:00 a.m. to 4:55 p.m. local time.
- Bradesco preferreds last traded at R$18.12 after moving between R$17.84 and R$18.22 during the session.
- Bradesco set July 3 as the record date for its R$3.5 billion interest-on-equity payout. By Reuters math, the payout gives Bradesco’s common shares a slightly bigger one-time cash yield compared to preferred shares.
Banco Bradesco S.A. BVMF:BBDC4 traded flat in São Paulo on Thursday. The spread between the common and preferred shares stayed wider ahead of the July 3 cut-off.
Bradesco approved R$3.5 billion in interim interest on shareholders’ equity. The payment comes to R$0.315359035 per common share, R$0.346894939 per preferred share, with the gross values set. Record date is July 3, and shares go ex-rights from July 6, the bank said.
At Thursday prices, Bradesco common shares (BVMF:BBDC3) gave investors a marginally higher yield per real. Google Finance had BBDC3 at R$15.74, with BBDC4 trading at R$18.12, Investing.com data showed.
| Bradesco line | Price used | Gross interim JCP/share | Net interim JCP/share | Gross yield on price | Net yield on price |
|---|---|---|---|---|---|
| BBDC3 common | R$15.74 | R$0.315359035 | R$0.260171204 | 2.00% | 1.65% |
| BBDC4 preferred | R$18.12 | R$0.346894939 | R$0.286188324 | 1.91% | 1.58% |
The numbers stack up like this: the preferred stock trades 15.1% above the common, based on quoted prices. Its gross interim payment is up 10% over the common, so preferred holders still collect a bigger payout per share. Even so, common holders wind up with a bit more cash per dollar invested, both before taxes and after.
Bradesco said its common shares have voting rights and full tag-along rights. Preferred shares don’t vote, but get 10% higher dividends than common shares and 80% tag-along.
| BBDC4 tape item | Value |
|---|---|
| Last price | R$18.12 |
| Prior close | R$18.10 |
| Day range | R$17.84 to R$18.22 |
| Year-to-date move | up 1.23% |
| One-off net JCP as % of price | 1.58% |
The interim net payment tops BBDC4’s 1.23% price gain so far this year, according to InfoMoney. This puts more focus on the ex-rights date for income funds and local retail players than on the stock’s small intraday move.
Bernard Zambonin, equity research analyst with DM Martins Research, said in a Seeking Alpha post on Wednesday that Bradesco’s “ROAE is back above the Selic hurdle” and that its “high-single-digit dividend/JCP yield pays investors to wait.” Seeking Alpha
It’s still a high bar. The benchmark Selic rate in Brazil stood at 14.25%, according to Trading Economics, which keeps banks under pressure to show profit growth that can outpace the risk-free rate.
Markets are betting on a rebound. Investing.com has a 12-month average price target for BBDC4 at R$22.83, with R$26 at the top end and R$19 at the bottom. With shares at R$18.12, that average target suggests nearly 26% upside, not counting dividends.
Bradesco is set to report earnings on July 29.
