Brookfield Business Partners L.P. (NYSE:BBU) Plans 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 0.99%. 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 dividend payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. 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

BBU stock opened at $25.56 on Wednesday. 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 twelve month low of $15.34 and a twelve month high of $26.07. The business’s fifty day moving average is $23.54 and its 200-day moving average is $20.93. The company has a market cap of $1.90 billion, a P/E ratio of 3.16 and a beta of 1.45.

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

Wall Street Analyst Weigh In

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