Broadridge Financial Solutions, Inc. (NYSE:BR) Increases Dividend to $0.98 Per Share

Key Points

• Broadridge Financial Solutions announced a quarterly dividend of $0.98 per share, representing a 10.8% increase from the previous quarterly dividend of $0.88.
• The company has a payout ratio of 38.1% and is expected to maintain its dividend with a future payout ratio of 37.8%, based on projected earnings.
• Broadridge Financial Solutions has a market cap of $29.24 billion and reported earnings per share of $3.55 for the last quarter, exceeding analysts' estimates.

Broadridge Financial Solutions, Inc. (NYSE:BR - Get Free Report) announced a quarterly dividend on Tuesday, August 5th, RTT News reports. Investors of record on Thursday, September 11th will be paid a dividend of 0.975 per share by the business services provider on Thursday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 11th. This is a 10.8% increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88.

Broadridge Financial Solutions has a dividend payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Broadridge Financial Solutions to earn $9.31 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 37.8%.

Broadridge Financial Solutions Trading Up 0.5%

NYSE BR opened at $266.63 on Thursday. Broadridge Financial Solutions has a one year low of $206.29 and a one year high of $269.14. The firm has a market cap of $31.32 billion, a PE ratio of 37.61 and a beta of 0.94. The firm's fifty day moving average is $242.67 and its two-hundred day moving average is $238.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.32 and a current ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 earnings per share. Analysts expect that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.