Brookfield Business Partners (TSE:BBU.UN) Sets New 1-Year High - Here's What Happened

Key Points

• Brookfield Business Partners shares reached a new 52-week high of C$48.73 during trading, and the stock closed at C$37.25.
• The company declared a quarterly dividend of $0.0625 to be paid on September 29th, with a yield of 0.7%.
• Director Anne Ruth Herkes purchased 604 shares at an average price of C$41.50, indicating insider confidence in the stock.

Brookfield Business Partners LP (TSE:BBU.UN - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as C$48.73 and last traded at C$37.25, with a volume of 21146 shares trading hands. The stock had previously closed at C$37.18.

Brookfield Business Partners Trading Up 0.8%

The stock has a market cap of C$3.43 billion, a PE ratio of -275.71, a P/E/G ratio of 2.61 and a beta of 1.69. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 241.05. The business's fifty day moving average is C$36.14 and its 200 day moving average is C$34.01.

Brookfield Business Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.25 annualized dividend and a yield of 0.6%. Brookfield Business Partners's dividend payout ratio (DPR) is presently -178.57%.

Insider Activity at Brookfield Business Partners

In other news, Director Anne Ruth Herkes purchased 604 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were bought at an average price of C$41.50 per share, with a total value of C$25,064.20. Corporate insiders own 3.96% of the company's stock.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.