Brazil's Itau Unibanco increases capital to boost liquidity
SAO PAULO, March 27 (Reuters) - The board of Itau Unibanco Holding SA, Brazil's largest bank by market value, approved a capital increase to boost liquidity of its shares and generate value for investors, according to a securities filing on Friday.
Itau will capitalize 10.148 billion reais ($3.17 billion) of its profit reserves and issue one new share for every ten that an investor holds, the filing added. The bank said it will continue to pay monthly dividends of 0.015 reais per share, thereby increasing total monthly payments by 10 percent.
($1 = 3.20 Brazilian reais) (Reporting by Alberto Alerigi Jr. and Brad Haynes)
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