Brookfield Business Partners L.P. (NYSE:BBU) Increases Dividend to $0.06 Per Share

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 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend 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% 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 Stock Performance

Shares of Brookfield Business Partners stock opened at $26.20 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12. Brookfield Business Partners has a 52 week low of $15.34 and a 52 week high of $26.49. The firm’s 50 day moving average is $23.62 and its two-hundred day moving average is $20.97. The firm has a market capitalization of $1.95 billion, a P/E ratio of 3.23 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company posted $1.33 EPS. Research analysts forecast that Brookfield Business Partners will post 5.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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