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

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Thursday, November 6th. Shareholders of record on Friday, November 28th will be paid a dividend of 0.0625 per share by the business services provider on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, November 28th.

Brookfield Business Partners has decreased its dividend payment by an average of 0.0%per year over the last three years. Brookfield Business Partners has a payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield Business Partners to earn $5.84 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 4.3%.

Brookfield Business Partners Price Performance

NYSE:BBU traded down $0.62 during trading hours on Thursday, reaching $34.09. The company had a trading volume of 145,047 shares, compared to its average volume of 31,815. The stock has a 50-day moving average of $31.53 and a two-hundred day moving average of $27.21. Brookfield Business Partners has a one year low of $18.63 and a one year high of $36.90. The firm has a market capitalization of $3.02 billion, a PE ratio of -262.20 and a beta of 1.39. The company has a quick ratio of 1.36, a current ratio of 1.67 and a debt-to-equity ratio of 2.90.

Hedge Funds Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BROOKFIELD Corp ON boosted its stake in Brookfield Business Partners by 72.5% in the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after purchasing an additional 18,549,503 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Brookfield Business Partners by 1.6% in the third quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock worth $35,513,000 after purchasing an additional 17,508 shares in the last quarter. AGF Management Ltd. boosted its stake in Brookfield Business Partners by 58.2% in the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock worth $8,030,000 after purchasing an additional 126,189 shares in the last quarter. Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Business Partners during the first quarter valued at $3,997,000. Finally, TD Asset Management Inc lifted its stake in shares of Brookfield Business Partners by 2.7% during the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock valued at $3,625,000 after acquiring an additional 4,032 shares during the period. Institutional investors and hedge funds own 85.04% of the company’s stock.

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.