Broadridge Beats Earnings and Hikes Dividend

This morning, Broadridge Financial Solutions (BR) released a solid earnings report. For its fiscal Q4, BR’s earnings rose 25% to $2.15 per share which beat estimates by six cents per share. Recurring revenue, which is a key stat for them, rose 14% to $930 million.

Let’s look at guidance. For the new fiscal year, which ends on June 30, Broadridge expects earnings growth of 4% to 10%. Since the company made $5.03 per share last year, that implies earnings this year between $5.23 and $5.53 per share. Wall Street had been expecting $5.44 per share.

The company also increased its quarterly dividend from 54 cents to 57.5 cents per share. That’s a 6.5% increase. This is BR’s 14th consecutive annual dividend increase.

The stock has been up as much as 5.8% today and it reached a new 52-week high.

Posted by on August 11th, 2020 at 11:29 am


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