Brookfield Co. (NYSE:BN) Plans $0.08 Quarterly Dividend

Brookfield Co. (NYSE:BN) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.08 per share on Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.56%. The ex-dividend date is Monday, December 16th.

Brookfield has decreased its dividend by an average of 16.4% per year over the last three years. Brookfield has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield to earn $4.29 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.5%.

Brookfield Trading Down 1.7 %

Shares of Brookfield stock traded down $1.01 on Friday, hitting $56.79. 2,406,514 shares of the company’s stock traded hands, compared to its average volume of 2,786,896. The firm’s 50-day moving average price is $53.47 and its two-hundred day moving average price is $47.65. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The stock has a market capitalization of $93.52 billion, a PE ratio of 120.83 and a beta of 1.53. Brookfield has a one year low of $33.61 and a one year high of $60.20.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Scotiabank boosted their price target on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday. Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. TD Securities boosted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada decreased their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average price target of $55.31.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.