Solid purchase for Broadridge

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS INC. $203 is a buy. The company (New York symbol BR; High-Growth Payer Portfolio, Finance sector; Shares outstanding: 118.2 million; Market cap: $24.0 billion; Dividend yield: 1.6%; Dividend Sustainability Rating: Above Average; www.broadridge.com) is best known for processing and distributing proxies and regulatory filings. It last raised your quarterly dividend with the October 2023 payment. Investors now receive $0.80 a share, up 10.3% from $0.725. The new annual rate of $3.20 yields 1.6%. The company is now paying an undisclosed amount for Kyndryl Canada’s Securities Industry Services (SIS) wealth and capital markets technology platform. The business provides services such as clearing and settlement, account record keeping, tax and regulatory reporting, and order management for Canadian financial services firms. Broadridge is a buy. buy…