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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Friday, November 6th. Shareholders of record on Monday, November 30th will be paid a dividend of $0.5025 per share by the financial services provider on Thursday, December 31st. This represents a $2.01 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, November 30th.

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. Research analysts expect Brookfield Asset Management to earn $2.05 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 98.0%.

Brookfield Asset Management Stock Performance

NYSE BAM traded up $0.54 during trading on Friday, reaching $53.00. The company’s stock had a trading volume of 7,966,901 shares, compared to its average volume of 3,171,020. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $86.83 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 2.29 and a beta of 1.27. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $55.97. The firm has a 50 day moving average price of $47.17 and a 200 day moving average price of $47.84.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 6th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $1.60 billion. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit.

The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.

Brookfield Asset Management became a separately listed company in 2022, following the separation of Brookfield Corporation’s asset management business.