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BGC Partners sees paying Q4 dividend of about 14 cents per share

Published 12/20/2018, 08:50 AM
© Reuters.  BGC Partners sees paying Q4 dividend of about 14 cents per share
  • BGC Partners (NASDAQ:BGCP) sees paying Q4 dividend of about 14 cents per share and expects to keep its post-spin quarterly dividend at that rate in 2019.
  • Combined with Newmark's (NASDAQ:NMRK) quarterly dividend of 9 cents multiplied by the 0.463895 distribution ratio, the aggregate dividend would payment would be about equal to the 18 cents per share per quarter dividend paid in 2017 and 2018.
  • BGC is considering a reverse stock split of its common stock, units, and other share equivalents in Q1 2019.
  • Q4 guidance: Sees Q4 post spin BGC revenue of $445M-$475M and pretax post-spin adjusted earnings of $80M-$92M.
  • Plans to simplify its definitions of adjusted earnings and adjusted EBITDA to be more consistent with how other companies report non-GAAP results.
  • Previously: BGC Partners -2.9% after spinning off Newmark Group (Nov. 30)
  • Now read: Daily Insider Ratings Round Up 12/12/18


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