Brookfield Corporation Plans Quarterly Dividend of $0.09 (NYSE:BN)

Key Points

• Brookfield Corporation announced a quarterly dividend of $0.09 per share, payable on September 29th to shareholders of record as of September 12th, resulting in an annualized yield of 0.5%.
• The company has a low payout ratio of 8.1%, indicating that the dividend is well-covered by earnings, with expectations for future earnings per share at $4.69.
• Brookfield will undergo a 3-for-2 stock split on October 10th, distributing new shares to shareholders after the market closes on October 9th.

Brookfield Corporation (NYSE:BN - Get Free Report) announced a quarterly dividend on Thursday, August 7th. Shareholders of record on Friday, September 12th will be paid a dividend of 0.09 per share on Monday, September 29th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th.

Brookfield has a dividend payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield to earn $4.69 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 7.7%.

Brookfield Trading Down 1.5%

BN stock traded down $1.06 on Friday, hitting $67.80. 2,563,951 shares of the company were exchanged, compared to its average volume of 2,131,271. Brookfield has a twelve month low of $43.61 and a twelve month high of $69.63. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. The business's fifty day moving average is $65.81 and its two-hundred day moving average is $58.84. The stock has a market capitalization of $111.82 billion, a price-to-earnings ratio of 157.67 and a beta of 1.73.

Brookfield shares are set to split before the market opens on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, October 9th.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. Brookfield had a return on equity of 3.77% and a net margin of 1.11%. As a group, research analysts forecast that Brookfield will post 3.85 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield

Large investors have recently bought and sold shares of the stock. Hilltop National Bank acquired a new position in Brookfield during the 2nd quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC acquired a new position in Brookfield during the 2nd quarter valued at about $32,000. CoreCap Advisors LLC acquired a new position in Brookfield during the 4th quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Brookfield during the 1st quarter valued at about $26,000. Finally, North Capital Inc. acquired a new position in Brookfield during the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 61.60% of the company's stock.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.