Brookfield Corporation Declares 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) declared 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) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th.

Brookfield has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NYSE BN traded up $0.91 on Monday, reaching $68.71. The stock had a trading volume of 627,830 shares, compared to its average volume of 2,607,211. The company has a market cap of $113.32 billion, a P/E ratio of 159.80 and a beta of 1.73. Brookfield has a 1-year low of $43.61 and a 1-year 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 firm has a fifty day moving average of $65.81 and a two-hundred day moving average of $58.86.

Shares of Brookfield are going to split on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly minted shares will be payable to shareholders after the closing bell on Thursday, October 9th.

Brookfield (NYSE:BN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.88 earnings per share (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%. On average, equities research analysts anticipate that Brookfield will post 3.85 EPS for the current year.

Hedge Funds Weigh In On Brookfield

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BN. D. E. Shaw & Co. Inc. grew its position in Brookfield by 426.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 23,700 shares of the company's stock worth $1,361,000 after buying an additional 19,200 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Brookfield by 4.7% in the 4th quarter. Millennium Management LLC now owns 493,342 shares of the company's stock worth $28,340,000 after purchasing an additional 22,348 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Brookfield by 67.1% in the 4th quarter. Quantinno Capital Management LP now owns 44,759 shares of the company's stock worth $2,572,000 after purchasing an additional 17,976 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its holdings in shares of Brookfield by 1.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company's stock worth $618,000 after purchasing an additional 170 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Brookfield in the 4th quarter worth about $326,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

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.