AllianceBernstein Holding L.P. (NYSE:AB) Declares $0.83 Quarterly Dividend

Key Points

• AllianceBernstein declared a quarterly dividend of $0.83 per share, with an ex-dividend/record date of May 8 and a payment date of May 21, implying a reported yield of 8.6%.
• The company's payout ratio is about 108.8%, meaning the dividend is currently funded partly from the balance sheet, though analysts forecast ~$3.93 EPS next year that would lower the implied payout to roughly 97.7%.
• In the latest quarter AB reported EPS of $0.83 (missing estimates by $0.02) and revenue of $871.1M (below consensus), while the stock traded up ~1.2% to $38.53 (market cap ~$3.56B, P/E ~12.8).

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Friday, May 8th will be paid a dividend of 0.83 per share by the asset manager on Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 8.6%. The ex-dividend date is Friday, May 8th.

AllianceBernstein has raised its dividend by an average of 0.0%per year over the last three years. AllianceBernstein has a payout ratio of 108.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect AllianceBernstein to earn $3.93 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 97.7%.

AllianceBernstein Trading Up 1.2%

AB stock traded up $0.46 during mid-day trading on Tuesday, reaching $38.53. The company's stock had a trading volume of 232,894 shares, compared to its average volume of 391,964. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The business's 50 day moving average price is $38.44 and its 200 day moving average price is $39.44. AllianceBernstein has a 12 month low of $35.59 and a 12 month high of $44.11.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its earnings results on Tuesday, April 28th. The asset manager reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.02). The business had revenue of $871.14 million during the quarter, compared to the consensus estimate of $914.51 million. AllianceBernstein had a return on equity of 21.17% and a net margin of 6.62%.The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, equities analysts expect that AllianceBernstein will post 3.5 EPS for the current fiscal year.

About AllianceBernstein

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm's roots date back to 1967 with the founding of Sanford C.

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