Brookfield Business Partners L.P. (NYSE:BBU) Announces Dividend Increase – $0.06 Per Share

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.063 per share by the business services provider on Tuesday, December 31st. This represents a $0.25 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06.

Brookfield Business Partners has a payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of BBU opened at $26.20 on Thursday. The company has a market cap of $1.95 billion, a P/E ratio of 3.23 and a beta of 1.45. Brookfield Business Partners has a fifty-two week low of $15.34 and a fifty-two week high of $26.49. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12. The firm’s 50 day moving average price is $23.62 and its 200 day moving average price is $20.97.

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

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an “outperform” rating and set a $32.00 target price on shares of Brookfield Business Partners in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Business Partners has a consensus rating of “Buy” and an average target price of $31.40.

Brookfield Business Partners Company Profile

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.