Brunswick Co. Plans Quarterly Dividend of $0.21 (BC)

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Tuesday, May 21st will be given a dividend of 0.21 per share on Friday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Monday, May 20th.

Brunswick has increased its dividend payment by an average of 14.1% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Brunswick has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brunswick to earn $5.58 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 15.1%.

NYSE:BC opened at $51.19 on Friday. Brunswick has a 1-year low of $41.92 and a 1-year high of $69.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.61 and a quick ratio of 0.79. The firm has a market capitalization of $4.40 billion, a P/E ratio of 10.73, a PEG ratio of 1.07 and a beta of 1.63.

Brunswick (NYSE:BC) last released its earnings results on Thursday, April 25th. The company reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. Brunswick had a net margin of 2.99% and a return on equity of 27.01%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned $1.01 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Brunswick will post 4.92 EPS for the current year.

A number of equities analysts have commented on the stock. Northcoast Research reaffirmed a “buy” rating on shares of Brunswick in a research report on Friday, April 26th. JPMorgan Chase & Co. assumed coverage on shares of Brunswick in a research report on Friday, January 11th. They set a “neutral” rating and a $52.00 price objective for the company. Longbow Research set a $68.00 price objective on shares of Brunswick and gave the stock a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of Brunswick from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, ValuEngine raised shares of Brunswick from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Brunswick presently has an average rating of “Buy” and an average price target of $69.64.

In other news, VP Christopher F. Dekker sold 1,599 shares of Brunswick stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $49.94, for a total transaction of $79,854.06. Following the completion of the sale, the vice president now owns 32,323 shares of the company’s stock, valued at $1,614,210.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel J. Tanner sold 3,373 shares of Brunswick stock in a transaction on Friday, March 15th. The stock was sold at an average price of $53.28, for a total value of $179,713.44. The disclosure for this sale can be found here. Insiders have sold 6,251 shares of company stock valued at $321,816 in the last three months. Insiders own 1.20% of the company’s stock.

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Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.

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Dividend History for Brunswick (NYSE:BC)

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