Brookfield Asset Management Ltd. (NYSE:BAM) Announces Quarterly Dividend of $0.50

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Friday, May 8th. Shareholders of record on Friday, May 29th will be paid a dividend of 0.5025 per share by the financial services provider on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, May 29th.

Brookfield Asset Management has a payout ratio of 105.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brookfield Asset Management to earn $2.05 per share next year, which means the company should continue to be able to cover its $2.01 annual dividend with an expected future payout ratio of 98.0%.

Brookfield Asset Management Trading Up 1.9%

BAM stock traded up $0.92 during midday trading on Friday, hitting $49.71. The company had a trading volume of 5,983,270 shares, compared to its average volume of 3,636,004. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. Brookfield Asset Management has a 52 week low of $42.20 and a 52 week high of $64.10. The stock’s 50 day moving average price is $45.90 and its 200 day moving average price is $50.13. The stock has a market cap of $81.44 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 2.00 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. As a group, equities research analysts expect that Brookfield Asset Management will post 1.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently modified their holdings of BAM. Zions Bancorporation National Association UT increased its holdings in shares of Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 345 shares in the last quarter. LOM Asset Management Ltd bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at $31,000. eCIO Inc. bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at $42,000. Assetmark Inc. lifted its holdings in shares of Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 395 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its holdings in shares of Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 562 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.