Q: BBU owns(last reported 28%) of Bre.Complete silence on Bre even though belongs to the famous BN group. and paying a great dividend,currently 9.45% for an extended period of time.Why?Please short comment on last Q results .When is the next report and estimated Rev.& Eps.Please comment on co.I have held it for a few years and at a current loss of of 14.7% Add,Hold or Sell. Txs for U usual great services & views
5i Research Answer:
Next results are March 20 (estimated). There are no analysts and thus no estimates. This and its small size and focus on real estate brokerage have kept things relatively quiet, as sentiment has been weak with higher rates. The last quarter was solid, with a small increase in revenue but a big swing from a loss in the prior quarter to a decent profit. Distributable cash flow was 40c per share, vs dividends of 11.25c per share. The dividend has not been raised since 2017 which may also be a reason for less interest. We consider it decent, but there is size risk and sector risk here (housing/interest rates/economic).