BlackRock (NYSE:BLK) to Issue $5.73 Quarterly Dividend

BlackRock (NYSE:BLK) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Tuesday, September 8th will be given a dividend of 5.73 per share by the asset manager on Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 8th.

BlackRock has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 16 years. BlackRock has a payout ratio of 45.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect BlackRock to earn $64.15 per share next year, which means the company should continue to be able to cover its $22.92 annual dividend with an expected future payout ratio of 35.7%.

BlackRock Trading Up 1.8%

Shares of NYSE BLK opened at $1,056.84 on Thursday. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The business has a fifty day moving average price of $1,031.34 and a 200 day moving average price of $1,042.28. The stock has a market capitalization of $163.80 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 1.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.69 by $1.22. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $12.05 earnings per share. Equities research analysts expect that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.