Blackstone Inc. (NYSE:BX) Announces Dividend Increase - $1.29 Per Share

Key Points

• Blackstone raised its quarterly dividend 11.2% to $1.29 per share from $1.16. Shareholders of record on August 3 will receive payment on August 10, representing an annualized yield of approximately 4.0%.
• The dividend appears covered by earnings, with a current payout ratio of 80.8%; analysts expect that ratio to decline to 68.1% based on projected earnings and the $5.16 annual dividend.
• Blackstone reported quarterly EPS of $1.52, beating estimates of $1.34, while revenue reached $5.04 billion—up 35.9% year over year and above the $3.42 billion consensus estimate.

Blackstone Inc. (NYSE:BX - Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Monday, August 3rd will be paid a dividend of 1.29 per share by the asset manager on Monday, August 10th. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, August 3rd. This is a 11.2% increase from Blackstone's previous quarterly dividend of $1.16.

Blackstone has increased its dividend payment by an average of 0.2%annually over the last three years. Blackstone has a payout ratio of 80.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect Blackstone to earn $7.58 per share next year, which means the company should continue to be able to cover its $5.16 annual dividend with an expected future payout ratio of 68.1%.

Blackstone Stock Up 0.1%

BX stock opened at $128.18 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The company has a market cap of $95.22 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.58. The business has a 50-day simple moving average of $121.67 and a 200 day simple moving average of $123.87. Blackstone has a 52 week low of $101.73 and a 52 week high of $190.09.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. Sell-side analysts anticipate that Blackstone will post 6 EPS for the current fiscal year.

About Blackstone

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

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