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

Key Points

• Brookfield Business Partners L.P. announced a quarterly dividend of $0.06 per share, payable on September 29th to investors of record as of August 29th, indicating a yield of 1.1%.
• The company's earnings per share for the last quarter was reported at $1.12, which missed analyst estimates by $0.14, while analysts forecast a future earnings per share of $5.84 for the next year.
• Institutional investors and hedge funds hold 85.04% of Brookfield's shares, with notable increases in stakes from firms like Bank of New York Mellon Corp and Russell Investments Group Ltd. in recent quarters.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Investors of record on Friday, August 29th will be given a dividend of 0.0625 per share by the business services provider on Monday, September 29th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 29th.

Brookfield Business Partners has a payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 6.2%

NYSE:BBU traded up $1.48 during mid-day trading on Tuesday, hitting $25.42. 19,840 shares of the company's stock were exchanged, compared to its average volume of 18,866. Brookfield Business Partners has a one year low of $18.45 and a one year high of $27.47. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.48 and a quick ratio of 1.21. The business has a fifty day moving average price of $25.44 and a 200 day moving average price of $23.75. The company has a market cap of $2.26 billion, a PE ratio of -195.52 and a beta of 1.38.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. BROOKFIELD Corp ON increased its holdings in Brookfield Business Partners by 72.5% in the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider's stock valued at $1,035,806,000 after acquiring an additional 18,549,503 shares during the last quarter. Triasima Portfolio Management inc. bought a new stake in Brookfield Business Partners in the 1st quarter valued at $3,997,000. AGF Management Ltd. increased its holdings in Brookfield Business Partners by 58.2% in the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock valued at $8,030,000 after acquiring an additional 126,189 shares during the last quarter. NewGen Asset Management Ltd bought a new stake in Brookfield Business Partners in the 4th quarter valued at $2,356,000. Finally, Bank of Montreal Can increased its holdings in Brookfield Business Partners by 11.3% in the 4th quarter. Bank of Montreal Can now owns 928,564 shares of the business services provider's stock valued at $21,871,000 after acquiring an additional 94,052 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors.

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.