Brookfield Business Partners L.P. (BBU) To Go Ex-Dividend on November 29th

Brookfield Business Partners L.P. (NYSE:BBU) declared a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given 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 a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06.

Brookfield Business Partners has a 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 Price Performance

Brookfield Business Partners stock opened at $25.02 on Friday. The company’s 50 day simple moving average is $22.48 and its 200-day simple moving average is $20.45. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00. Brookfield Business Partners has a 1 year low of $14.43 and a 1 year high of $25.64. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.84 and a beta of 1.45.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated an “outperform” rating and set a $32.00 price target on shares of Brookfield Business Partners in a research report on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Brookfield Business Partners 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.