Broadridge Financial Solutions, Inc. (BR) to Issue Quarterly Dividend of $0.49 on October 3rd
Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Monday, August 6th, Zacks reports. Investors of record on Tuesday, September 18th will be given a dividend of 0.485 per share by the business services provider on Wednesday, October 3rd. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, September 17th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.37.
Broadridge Financial Solutions has raised its dividend by an average of 14.6% annually over the last three years and has increased its dividend every year for the last 10 years. Broadridge Financial Solutions has a payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Broadridge Financial Solutions to earn $5.06 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 38.3%.
Broadridge Financial Solutions stock opened at $137.72 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.28 and a current ratio of 1.28. Broadridge Financial Solutions has a 12-month low of $78.44 and a 12-month high of $138.24. The firm has a market cap of $15.92 billion, a P/E ratio of 32.65, a P/E/G ratio of 2.94 and a beta of 0.89.
Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. ValuEngine downgraded shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a report on Friday, June 1st. Sandler O’Neill restated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Wolfe Research assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating on the stock. Finally, SunTrust Banks assumed coverage on shares of Broadridge Financial Solutions in a report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $123.40.
In other Broadridge Financial Solutions news, VP James M. Young sold 44,726 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $129.79, for a total transaction of $5,804,987.54. Following the transaction, the vice president now owns 64,848 shares in the company, valued at $8,416,621.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and offers ProxyEdge, an electronic proxy delivery and voting solution.
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