Brookfield Asset Management Ltd. (BAM) to Issue Quarterly Dividend of $0.50 on June 30th

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Friday, May 8th. Stockholders of record on Friday, May 29th will be given a dividend of 0.5025 per share by the financial services provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, May 29th.

Brookfield Asset Management has a 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. Analysts expect Brookfield Asset Management to earn $2.02 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 99.5%.

Brookfield Asset Management Stock Up 2.5%

BAM opened at $49.12 on Wednesday. The company has a fifty day moving average price of $46.49 and a 200-day moving average price of $49.59. The firm has a market capitalization of $80.47 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. Brookfield Asset Management has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Equities research analysts expect that Brookfield Asset Management will post 1.74 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.