Banco do Brasil considering changes to dividend policy - CFO
SAO PAULO May 8 (Reuters) - State-run lender Banco do Brasil SA is considering altering its dividend policy next year, Chief Financial Officer Ivan Monteiro said on Thursday.
"It is reasonable for that to be discussed for the 2015 budget," Monteiro said on a conference call with analysts to discuss first-quarter earnings. He added that the current 40 percent payout rate would be maintained for 2014.
The bank missed first-quarter profit estimates on Wednesday after fee income fell short of expectations despite stringent expense controls and stable loan-loss provisions. (Reporting by Aluisio Pereira; Writing by Asher Levine; Editing by Jeffrey Benkoe)