BlackRock (NYSE:BLK) Announces Quarterly Dividend of $5.73

BlackRock (NYSE:BLK) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Friday, June 5th will be paid a dividend of 5.73 per share by the asset manager on Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th.

BlackRock has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 16 consecutive years. BlackRock has a dividend payout ratio of 45.7% meaning its dividend is sufficiently covered by earnings. Analysts expect BlackRock to earn $60.99 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 37.6%.

BlackRock Stock Up 1.3%

Shares of NYSE BLK opened at $1,050.09 on Thursday. The stock has a market cap of $163.01 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.44. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The business has a 50-day moving average price of $1,013.75 and a 200 day moving average price of $1,054.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating the consensus estimate of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business earned $9.64 EPS. Equities research analysts forecast that BlackRock will post 52.77 earnings per share for the current year.

About BlackRock

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.