Brookfield Business Partners L.P. (BBU) to Issue Quarterly Dividend of $0.06 on December 31st

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 0.063 per share by the business services provider on Tuesday, December 31st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, November 29th. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06.

Brookfield Business Partners has a payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brookfield Business Partners to earn $5.26 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 4.8%.

Brookfield Business Partners Trading Up 1.6 %

Brookfield Business Partners stock opened at $25.56 on Wednesday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 3.16 and a beta of 1.45. Brookfield Business Partners has a 1 year low of $15.34 and a 1 year high of $26.07. The firm’s 50 day moving average price is $23.54 and its two-hundred day moving average price is $20.93. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.39. The firm had revenue of $9.23 billion during the quarter. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. During the same period in the prior year, the business posted $1.33 EPS. On average, research analysts predict that Brookfield Business Partners will post 5.43 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 target price on shares of Brookfield Business Partners in a research report on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $31.40.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.