Itaú Unibanco Holding S.A. (the “Company”) announced that its Board of Directors has approved, effective today, the distribution of dividends and interest on capital (IoC) for the 2025 fiscal year.
(i) A dividend of BRL1.868223 per share, scheduled for payment on December 19, 2025; and (ii) IoC of BRL0.369750 per share, subject to a 15% withholding tax15%, resulting in a net payment of BRL0.3142875 per share, payable through April 30, 2026.
The combined payouts amount to roughly BRL 23.4 billion and will be calculated based on the shareholder register as of December 9, 2025. The shares will trade “ex‑rights” as of December 10, 2025.
Both common (ITUB3) and preferred (ITUB4) shares will receive identical dividend and IoC amounts.
In a separate capital‑structure move, the Board also approved the cancellation of 78,850,638 preferred shares, representing approximately BRL 3 billion. The shares were previously bought back under the Company’s ongoing share‑repurchase program and held in treasury, but their cancellation does not reduce the total subscribed and paid‑in capital.
Following the cancellation, the Company’s share capital of BRL 124,063,060,190.00 now consists of 10,705,698,245 book‑entry shares with no par value—5,454,119,395 common shares and 5,251,578,850 preferred shares. Amendments to the bylaws reflecting this change will be presented at the next General Shareholders’ Meeting.
Strategic Implications
The dividend and IoC payout underscores Itaú Unibanco’s commitment to returning cash to shareholders while maintaining a robust capital buffer. With a payout ratio that aligns with the bank’s target range of 30‑35% of net income, the distribution signals confidence in continued earnings stability despite a challenging macro environment in Brazil, including elevated inflation and regulatory pressures.
Share cancellation, meanwhile, is a classic capital‑optimization tactic that improves earnings per share (EPS) by reducing the denominator without diluting existing shareholders. By eliminating treasury‑held preferred shares, the bank streamlines its capital structure, potentially enhancing its credit ratings and lowering the cost of funding.
From a technology standpoint, Itaú Unibanco has been accelerating its digital banking initiatives, investing heavily in AI‑driven customer service platforms and blockchain‑based payment solutions. These efforts aim to drive higher profit margins by lowering operating costs and expanding the bank’s fintech ecosystem. The firm’s strong cash position—bolstered by the recent dividend and share‑cancellation program—provides the financial flexibility needed to sustain these technology investments.
Analysts view the combined actions as a positive signal for the stock’s valuation. The ex‑rights date aligns with the start of the third quarter, a period when the Brazilian market historically sees heightened trading volumes. Investors may anticipate a modest upward pressure on Itaú’s share price, particularly given the bank’s leading market share in retail banking and its expanding presence in corporate finance.
Overall, the Board’s decisions reflect a balanced approach: rewarding shareholders, enhancing capital efficiency, and supporting long‑term strategic initiatives that position Itaú Unibanco for continued growth in an increasingly digital financial services landscape.
São Paulo, Brazil – November 27, 2025.
Investor Relations Officer
[1] Includes amounts previously declared for fiscal year 2025.
[2] Excludes corporate shareholders that can demonstrate exemption from withholding tax.
SOURCE: Itaú Unibanco Holding S.A.
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