Ares Management Corporation (NYSE:ARES) to Issue Quarterly Dividend of $1.35

Key Points

• Ares Management declared a quarterly dividend of $1.35 per share, payable September 30 to shareholders of record on September 16. The dividend implies a 4.2% yield, and the company has increased payouts for seven consecutive years.
• The dividend currently has an 83.1% earnings payout ratio, while analysts expect that ratio to decline to 73.7% next year based on projected earnings of $7.33 per share.
• Ares reported quarterly EPS of $1.29, slightly ahead of estimates, as revenue increased 5.8% year over year. Its shares rose 3.4% to $128.31 in Friday trading.

Ares Management Corporation (NYSE:ARES - Get Free Report) declared a quarterly dividend on Friday, July 31st. Investors of record on Wednesday, September 16th will be given a dividend of 1.35 per share by the asset manager on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 16th.

Ares Management has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Ares Management has a dividend payout ratio of 83.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research analysts expect Ares Management to earn $7.33 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 73.7%.

Ares Management Trading Up 3.4%

NYSE:ARES traded up $4.19 during trading hours on Friday, reaching $128.31. The company's stock had a trading volume of 4,174,760 shares, compared to its average volume of 3,204,200. The firm has a market capitalization of $42.32 billion, a price-to-earnings ratio of 59.68, a PEG ratio of 1.11 and a beta of 1.51. The firm has a 50-day simple moving average of $123.75 and a 200-day simple moving average of $123.94. Ares Management has a 1 year low of $95.80 and a 1 year high of $195.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same quarter last year, the business earned $1.03 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts expect that Ares Management will post 5.98 EPS for the current fiscal year.

About Ares Management

Ares Management Corporation NYSE: ARES is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.