Topic: How To Invest

Dividend Advisor Hotline – Friday, August 9, 2019

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS INC., $125.75, New York symbol BR, serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. Starting with the October 2019 payment, Broadridge will raise its quarterly dividend by 11.3%. Investors will then receive $0.54 a share instead of $0.485. The new annual rate of $2.16 yields 1.7%. The company has now increased the annual dividend rate each year since it went public in 2007. For the fiscal 2019 fourth quarter, ended June 30, 2019, revenue fell 8.3%, to $1.21 billion from $1.32 billion a year earlier. If you adjust the year-earlier revenue for a new accounting rule, revenue for the most-recent quarter gained 1%. Excluding one-time items, the company earned $1.72 in the latest quarter. That’s down 8.5% from $1.86. Broadridge’s dividend has now grown an average of 14.9% annually over the last 5 years. Its TSI Dividend Sustainability Rating is Above Average. OUR RECOMMENDATION: Broadridge Financial is a buy. Broadridge recent coverage: Hotline for June 14,…