Broadridge lifts your dividend

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS INC. $139 is a buy. The company (New York symbol BR; Aggressive Growth Portfolio, Finance sector; Shares o/s: 115.2 million; Market cap: $16.0 billion; Price-to-sales ratio: 3.5; Div. yield: 1.7%; TSINetwork Rating: Average; www.broadridge.com) serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. Broadridge is now raising its quarterly dividend by 6.5% with the October 2020 payment, to $0.575 a share from $0.54. The new annual rate of $2.30 yields 1.7%. In its fiscal 2020 fourth quarter, ended June 30, 2020, the company’s revenue rose 12.4%, to $1.36 billion from $1.21 billion a year earlier. Broadridge benefited from increased mutual fund proxy activity and equity proxy contests associated with several one-time projects. Excluding one-time items, the company earned $2.15, up 25.0% from $1.72. Broadridge is a buy. buy…

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