This Asset Manager Pays Dividend of $10.00 per Year and is Going to Trade Ex-Dividend on June 1, 2017
ACCESS Newswire
LONDON, UK / ACCESSWIRE / May 31, 2017 / Active Wall St. announces its dividend coverage for BlackRock, Inc. (NYSE: BLK). Shares of BlackRock will begin trading ex-dividend on June 01, 2017. In order to qualify for a dividend check, investors must own the stock on or before May 31, 2017. Register with us now for your free membership at:
On May 25, 2017, BlackRock announced that its Board of Directors has declared a quarterly cash dividend of $2.50 per share of common stock, payable June 23, 2017, to shareholders of record at the close of business on June 05, 2017.
BlackRock's indicated dividend represents a yield of 2.46% compared to the average dividend yield for the financial sector of 3.21%, and reflects annualized dividend payout of $10.00 dividend. BlackRock last increased its dividend in January 2017, where it raised the dividend by 9% from $2.29 per common stock to the current dividend of $2.50 per share. The Company has raised its dividend for seven consecutive years.
BlackRock has a dividend payout ratio of 45.09% meaning the Company distributes $0.45 for every $1.00 earned, and the dividend is sufficiently covered by earnings. As per analysts' estimates, BlackRock is expected to report earnings of $24.35 per share in the coming year, which means that the Company should be able to comfortably cover its annualized dividend. Moreover, as on April 19, 2017, BlackRock had economic tangible assets, which include cash, receivables, seed and co-investments, regulatory investments, and other assets of $13 billion in total. Having this liquidity cushion would allow the Company to absorb any fluctuations in earnings and pay its dividend without interruption.
About the Company
BlackRock is a global leader in investment management, risk management, and advisory services for institutional and retail clients. At March 31, 2017, BlackRock's AUM was $5.4 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares®, and other pooled investment vehicles. As of March 31, 2017, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia, Middle-East, and Africa.
Recent Development for BlackRock
BlackRock announced its latest earnings result on April 19, 2017. For the quarter ended March 31, 2017, BlackRock's revenue increased 8% to $2.82 billion compared to $2.62 billion. The Company's cash management asset under management (AUM) decreased 4% to $388.9 billion BlackRock's assets grew 14% on a y-o-y basis to $5.42 trillion, fees for managing those assets and lending out the securities grew 12% compared to the year ago same period. BlackRock's reported quarter results reflected $80 billion of long-term net inflows, representing an annualized organic asset growth rate of 7% and an annualized organic base fee growth rate of 5%.
Stock Performance
At the closing bell, on Tuesday, May 30, 2017, BlackRock's share price finished yesterday's trading session at $406.82, marginally sliding 0.05%. A total volume of 744.50 thousand shares exchanged hands, which was higher than the 3 months average volume of 513.74 thousand shares. The stock has rallied 8.87% and 11.43% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 6.91%. The stock is trading at a PE ratio of 19.99 and has a dividend yield of 2.46%.
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