Bunge Global SA to Issue Dividend of $0.70 (NYSE:BG)

Key Points

• Bunge Global SA announced a dividend of $0.70 per share, with the ex-dividend date set for August 19th, and the payment scheduled for September 2nd.
• The company has a payout ratio of 22.8%, indicating that its dividends are well covered by earnings, and it is expected to maintain a future payout ratio of 29.5% based on projected earnings.
• Bunge Global reported earnings of $1.31 per share for the last quarter, surpassing analyst expectations, even though revenue fell 3.6% year-over-year to $12.77 billion.

Bunge Global SA (NYSE:BG - Get Free Report) announced a dividend on Saturday, August 16th, investing.com reports. Investors of record on Wednesday, August 20th will be given a dividend of 0.70 per share by the basic materials company on Tuesday, September 2nd. This represents a dividend yield of 342.0%. The ex-dividend date of this dividend is Tuesday, August 19th.

Bunge Global has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bunge Global to earn $8.98 per share next year, which means the company should continue to be able to cover its $2.65 annual dividend with an expected future payout ratio of 29.5%.

Bunge Global Price Performance

NYSE BG opened at $81.77 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $79.39 and a 200 day simple moving average of $76.92. The company has a market cap of $16.36 billion, a P/E ratio of 8.17, a P/E/G ratio of 5.07 and a beta of 0.67. Bunge Global has a 1 year low of $67.40 and a 1 year high of $101.81.

Bunge Global (NYSE:BG - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.12. The business had revenue of $12.77 billion during the quarter, compared to analysts' expectations of $12.57 billion. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The firm's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. On average, sell-side analysts predict that Bunge Global will post 7.94 EPS for the current year.

Institutional Investors Weigh In On Bunge Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Bunge Global by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,535,869 shares of the basic materials company's stock worth $282,683,000 after acquiring an additional 80,082 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Bunge Global by 34.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock worth $255,756,000 after acquiring an additional 859,733 shares during the last quarter. Invesco Ltd. grew its position in shares of Bunge Global by 3.8% in the 1st quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company's stock valued at $254,446,000 after buying an additional 122,931 shares during the last quarter. Northern Trust Corp grew its position in shares of Bunge Global by 5.0% in the 4th quarter. Northern Trust Corp now owns 2,368,399 shares of the basic materials company's stock valued at $184,167,000 after buying an additional 112,333 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of Bunge Global by 2.1% in the 2nd quarter. LSV Asset Management now owns 2,135,862 shares of the basic materials company's stock valued at $171,467,000 after buying an additional 43,343 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.

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