BROADRIDGE FINANCIAL SOLUTIONS $22.88 New York symbol BR: TSINetwork Rating: Extra Risk) (201-714-3000; www.broadridge.com; Shares outstanding: 124.9 million; Market cap: $2.9 billion; Dividend yield: 3.2%) reports that its earnings rose 12.6% in its 2012 fiscal year, which ended June 30, 2012, to $198.0 million from $175.8 million in 2011. Earnings per share climbed 13.1%, to $1.55 from $1.37, on fewer shares outstanding.
Revenue rose 6.3%, to $2.3 billion from $2.2 billion.
The company continues to do a good job of attracting new clients and holding on to existing ones. Acquisitions also contributed to the gains. Moreover, Broadridge has finished moving its data centre to IBM under an outsourcing contract that expires in June 2022. This deal should save the company roughly $25 million a year.
Excluding unusual items, Broadridge expects to earn between $1.65 and $1.75 a share in fiscal 2012. The stock trades at a reasonable 13.5 times the midpoint of this range. The company also raised its quarterly dividend by 12.5%, to $0.18 a share from $0.16. The new rate yields 3.2%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Changes to this Policy
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