Ares Management Corporation to Issue Quarterly Dividend of $1.12 (NYSE:ARES)

Key Points

• Ares Management Corporation has declared a quarterly dividend of $1.12 per share, with a dividend yield of 2.6%, payable on September 30th.
• The company has a payout ratio of 68.9%, indicating that its dividend is well-covered by earnings, with expected earnings of $6.65 per share next year.
• Shares of Ares Management saw a decline of 5.6%, opening at $175.21 on the day the dividend was announced.

Ares Management Corporation (NYSE:ARES - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Stockholders of record on Tuesday, September 16th will be given a dividend of 1.12 per share by the asset manager on Tuesday, September 30th. This represents a c) annualized dividend and a dividend yield of 2.4%.

Ares Management has a dividend payout ratio of 68.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ares Management to earn $6.65 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 67.4%.

Ares Management Price Performance

Shares of ARES traded down $2.43 on Friday, hitting $183.10. The company's stock had a trading volume of 2,193,787 shares, compared to its average volume of 1,361,109. The company has a market capitalization of $59.80 billion, a PE ratio of 42.52, a PEG ratio of 1.50 and a beta of 1.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. Ares Management has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The company has a 50 day moving average price of $174.04 and a 200 day moving average price of $166.70.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. Ares Management had a return on equity of 16.49% and a net margin of 9.47%. During the same quarter in the previous year, the firm earned $0.99 EPS. On average, research analysts anticipate that Ares Management will post 5.28 earnings per share for the current fiscal year.

Ares Management Company Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.