Brookfield Corporation (NYSE:BN) Declares Quarterly Dividend of $0.07

Brookfield Corporation (NYSE:BN) announced a quarterly dividend on Thursday, November 12th. Investors of record on Wednesday, December 16th will be given a dividend of $0.07 per share on Thursday, December 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 16th.

Brookfield has decreased its dividend payment by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Brookfield has a payout ratio of 6.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brookfield to earn $3.64 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 7.7%.

Brookfield Price Performance

Shares of NYSE:BN traded down $0.65 during mid-day trading on Friday, reaching $40.99. The stock had a trading volume of 829,363 shares, compared to its average volume of 5,098,271. The business’s 50 day moving average price is $38.33 and its 200 day moving average price is $42.36. Brookfield has a 1 year low of $35.61 and a 1 year high of $49.56. The company has a market cap of $100.53 billion, a P/E ratio of 74.53 and a beta of 1.53. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, November 12th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.05. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Research analysts expect that Brookfield will post 2.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield

Several large investors have recently modified their holdings of the stock. Bank of Nova Scotia raised its holdings in Brookfield by 11.4% during the 1st quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock valued at $621,443,000 after buying an additional 1,575,668 shares during the period. TD Waterhouse Canada Inc. lifted its position in Brookfield by 3.6% in the third quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock worth $522,741,000 after buying an additional 495,666 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its stake in Brookfield by 6.3% during the third quarter. Beutel Goodman & Co Ltd. now owns 6,573,596 shares of the company’s stock worth $240,395,000 after buying an additional 386,889 shares during the period. Public Sector Pension Investment Board boosted its stake in Brookfield by 54.4% during the third quarter. Public Sector Pension Investment Board now owns 4,953,914 shares of the company’s stock worth $181,995,000 after buying an additional 1,746,333 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Brookfield by 32.4% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,700,649 shares of the company’s stock worth $171,502,000 after buying an additional 1,149,020 shares during the period. Institutional investors own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors. The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.