BlackRock Raises Dividend 2% to $5.10
January 12 2024 - 6:43AM
Dow Jones News
By Ben Glickman
BlackRock raised its quarterly dividend by 2% after its assets
under management topped $10 trillion for the second time in its
history.
The asset manager said Friday it was raising its payout to
shareholders to $5.10 a share from $5 a share.
The new dividend, equal to $20.40 a year, represents an annual
yield of 2.57% based on Thursday's closing price of $792.61.
BlackRock last lifted its payout in January 2023, when it raised
its dividend to $5 from $4.88.
BlackRock said on Friday it would acquire private-equity firm
Global Infrastructure Partners for about $12.5 billion in cash and
stock.
Chief Executive Larry Fink said BlackRock was entering this year
with $10 trillion in assets under management and accelerating
flows.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 12, 2024 06:28 ET (11:28 GMT)
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