BGC Partners, Inc. Declares Quarterly Dividend of $0.01 (NASDAQ:BGCP)

BGC Partners, Inc. (NASDAQ:BGCP) announced a quarterly dividend on Thursday, July 30th, RTT News reports. Shareholders of record on Wednesday, August 19th will be given a dividend of 0.01 per share by the financial services provider on Wednesday, September 2nd. This represents a $0.04 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, August 18th.

BGC Partners has decreased its dividend by an average of 9.7% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. BGC Partners has a payout ratio of 6.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect BGC Partners to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 6.3%.

Shares of BGCP stock traded down $0.04 on Thursday, hitting $2.64. The stock had a trading volume of 139,502 shares, compared to its average volume of 3,339,183. BGC Partners has a twelve month low of $2.07 and a twelve month high of $6.14. The company has a fifty day moving average price of $2.79 and a two-hundred day moving average price of $3.62. The firm has a market cap of $945.67 million, a P/E ratio of 261.26 and a beta of 1.73.

BGC Partners (NASDAQ:BGCP) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $603.17 million during the quarter, compared to analysts’ expectations of $592.75 million. BGC Partners had a return on equity of 42.22% and a net margin of 0.38%. Research analysts expect that BGC Partners will post 0.59 earnings per share for the current year.

A number of analysts recently issued reports on BGCP shares. BidaskClub cut BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, July 3rd. ValuEngine raised shares of BGC Partners from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Finally, Zacks Investment Research cut shares of BGC Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th.

About BGC Partners

BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.

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Dividend History for BGC Partners (NASDAQ:BGCP)

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