SÃO PAULO, June 29, 2026, 17:01 (BRT)
- Bradesco preferred shares gained around 1% on June 29, while the Ibovespa index was little changed.
- The stock is just days out from its “ex right” date on a R$0.346894939 interim interest-on-equity payout for each preferred share.
- The gross payout is roughly 1.9% of the R$18.11 share price listed by S&P Global-backed market data.
- Volume stayed light on one of the main screens, so the pre-ex-date carry trade jumped out.
Banco Bradesco S.A. BVMF:BBDC4 preferred shares closed at R$18.11 on Monday, up from R$17.92 on Friday, for a 1.06% gain, according to StockAnalysis figures from S&P Global Market Intelligence. The move outpaced Brazil’s Bovespa index, which Reuters/LSEG showed near 173,356 points and up just 0.03%.
The trade was less about today’s jump and more about Bradesco’s payout terms. Bradesco’s board signed off on R$3.5 billion in interim interest on shareholders’ equity, working out to R$0.346894939 per preferred share. Shareholders as of July 3 get the payout. The stock goes ex-rights July 6, with the money set to be paid by Jan. 29, 2027.
| Bradesco cash event | Gross amount per preferred share | Record/base date | Ex-right date | Pay date | Approx. gross yield at R$18.11 |
|---|---|---|---|---|---|
| Monthly JCP | R$0.018974809 | July 1, 2026 | July 2, 2026 | Aug. 3, 2026 | 0.10% |
| Interim JCP | R$0.346894939 | July 3, 2026 | July 6, 2026 | By Jan. 29, 2027 | 1.92% |
| Combined near-term entitlement | R$0.365869748 | — | — | — | 2.02% |
It’s a big interim payout for a bank with shares around R$18. Bradesco’s net payout, after 17.5% withholding tax, lands at R$0.286188324 for each preferred share, unless the shareholder is a tax-exempt legal entity. That nets out to about 1.58% of the R$18.11 close on Monday.
| Market screen | Latest price / level | Day move | Volume or range | What it says |
|---|---|---|---|---|
| Bradesco preferred BVMF:BBDC4 | R$18.11 | +1.06% | 6.36 million shares on StockAnalysis | BBDC4 edged up into the payout window. StockAnalysis |
| Bradesco preferred BVMF:BBDC4, Google Finance screen | — | — | 15.88 million shares; R$17.83-R$18.25 range | Volume tracked at 54% of Google’s 29.57 million average. Google |
| Ibovespa (.BVSP) | 173,355.61 | +0.03% | Delayed LSEG quote | Benchmark barely moved. Reuters |
| Bradesco ADR NYSE:BBD | $3.48 | +$0.02 | 43.4 million shares | The U.S.-traded ADR firmed late session. |
For investors, this is about timing. The gross interim JCP adds up to almost two sessions’ worth of outperformance if the stock goes down mechanically on the ex-rights date. But the payment isn’t until January 2027, so those in by the July 3 record are just locking in a later payout—not instant cash.
Brazilian markets traded as normal. According to B3’s 2026 schedule, the listed-market holiday in June is set for Corpus Christi on June 4. June 29 is not a holiday. Standard trading in São Paulo runs Monday to Friday, 10:00 a.m. to 4:55 p.m. local time.
The yield angle is important since Bradesco’s equity story relies on credit discipline. On June 12, in an interview reposted by investor relations, Alexandre Panico, executive director at Bradesco, said the bank remains “selective, but with appetite” for small and medium-sized companies, and “will not be aggressive.” He said high rates are affecting both large and medium companies.
The share price reflects that trade-off. Bradesco is pushing to build more SME business, but doesn’t want bad loans to slow margin gains. In a May investor day post, Investor Relations Director André Costa Carvalho pointed to the high Selic rate at 14.5% as reason for caution, but said it was “not a barrier to growth.”
Bradesco reported loan-loss provisions at R$9.667 billion for the first quarter, rising 9.5% over the previous quarter and 26.5% from a year ago, according to the same document. Return on average equity came in at 15.8% for the quarter, up from 15.2% in Q4 and 14.4% in the same period last year.
The next test for BBDC4 is straightforward. If shares keep most of Monday’s pop up to July 6, it means the market’s pricing in more than just the July entitlement. If the stock drops back by the value of the payout near the ex-rights date, it’ll look like a one-off short carry trade around Bradesco’s R$3.5 billion payout.
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