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

Brookfield Business Partners L.P. (NYSE:BBU) declared a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.063 per share by the business services provider on Tuesday, December 31st. This represents a $0.25 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, November 29th. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06.

Brookfield Business Partners has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brookfield Business Partners to earn $4.66 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 5.4%.

Brookfield Business Partners Trading Up 2.0 %

Shares of NYSE:BBU opened at $25.02 on Friday. The company has a market cap of $1.86 billion, a PE ratio of 3.84 and a beta of 1.45. The company’s 50 day moving average is $22.48 and its two-hundred day moving average is $20.45. Brookfield Business Partners has a 52 week low of $14.43 and a 52 week high of $25.64. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 2.24.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Brookfield Business Partners in a report on Monday, August 5th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $31.40.

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.