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

|About: BGC Partners, Inc. (BGCP)|By:, SA News Editor

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)

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