Brunswick Co. (BC) Plans $0.21 Quarterly Dividend

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Tuesday, May 21st will be paid a dividend of 0.21 per share on Friday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, May 20th.

Brunswick has raised its dividend by an average of 14.1% per year over the last three years and has raised its dividend every year for the last 6 years. Brunswick has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brunswick to earn $5.58 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 15.1%.

Shares of NYSE:BC opened at $47.06 on Friday. Brunswick has a 1-year low of $41.92 and a 1-year high of $69.82. The company has a quick ratio of 0.79, a current ratio of 1.61 and a debt-to-equity ratio of 0.87. The firm has a market cap of $4.10 billion, a PE ratio of 9.87, a P/E/G ratio of 0.96 and a beta of 1.63.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. Brunswick had a return on equity of 27.01% and a net margin of 2.99%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $1.01 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Brunswick will post 4.89 EPS for the current fiscal year.

In related news, VP Daniel J. Tanner sold 3,373 shares of Brunswick stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $53.28, for a total value of $179,713.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on BC. Zacks Investment Research downgraded Brunswick from a “hold” rating to a “sell” rating in a report on Wednesday. TheStreet downgraded Brunswick from a “b-” rating to a “c” rating in a report on Thursday, April 25th. SunTrust Banks reduced their price objective on Brunswick to $62.00 and set a “buy” rating for the company in a report on Friday, April 26th. They noted that the move was a valuation call. ValuEngine upgraded Brunswick from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Finally, Northcoast Research reiterated a “buy” rating on shares of Brunswick in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.64.

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Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.

Read More: Market Capitalization and Individual Investors

Dividend History for Brunswick (NYSE:BC)

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