Brookfield Business Partners L.P. Plans Quarterly Dividend of $0.06 (NYSE:BBU)

Brookfield Business Partners L.P. (NYSE:BBU) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Friday, November 28th will be paid a dividend of 0.0625 per share by the business services provider on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, November 28th.

Brookfield Business Partners has decreased its dividend payment by an average of 0.0%per year over the last three years. Brookfield Business Partners has a payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brookfield Business Partners to earn $5.84 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 4.3%.

Brookfield Business Partners Trading Down 1.8%

Shares of BBU traded down $0.62 during trading hours on Thursday, hitting $34.09. 145,047 shares of the stock traded hands, compared to its average volume of 31,815. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. Brookfield Business Partners has a 1-year low of $18.63 and a 1-year high of $36.90. The firm has a market capitalization of $3.02 billion, a PE ratio of -262.20 and a beta of 1.39. The business has a fifty day moving average of $31.53 and a 200-day moving average of $27.21.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in Brookfield Business Partners by 30,100.0% in the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,204 shares during the last quarter. Rathbones Group PLC bought a new stake in shares of Brookfield Business Partners in the second quarter worth about $265,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Brookfield Business Partners in the second quarter worth about $391,000. Bank of New York Mellon Corp increased its holdings in shares of Brookfield Business Partners by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock worth $465,000 after acquiring an additional 2,078 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Brookfield Business Partners by 636.4% in the second quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider’s stock worth $934,000 after acquiring an additional 31,135 shares in the last quarter. Institutional investors own 85.04% of the company’s stock.

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.