Brookfield Asset Management Ltd. (NYSE:BAM) Announces $0.50 Quarterly Dividend

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.5025 per share by the financial services provider on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 31st.

Brookfield Asset Management has a dividend payout ratio of 105.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Brookfield Asset Management to earn $2.03 per share next year, which means the company should continue to be able to cover its $2.01 annual dividend with an expected future payout ratio of 99.0%.

Brookfield Asset Management Trading Up 1.2%

BAM opened at $53.24 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The firm has a market cap of $87.23 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.11 and a beta of 1.26. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $63.54. The stock has a fifty day moving average price of $47.16 and a 200-day moving average price of $47.60.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.47 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. As a group, equities research analysts anticipate that Brookfield Asset Management will post 1.76 earnings per share for the current fiscal year.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.