Blackstone Inc. (NYSE:BX) Plans Quarterly Dividend of $1.12

Key Points

• Blackstone declared a quarterly dividend of $1.12 per share, payable November 9 to shareholders of record November 2. The payment implies an annualized dividend of $4.48 and a 3.8% yield, but represents a 13.2% decrease from the prior $1.29 dividend.
• The dividend appears financially supported, with a current payout ratio of 70.1%; analysts expect next year’s earnings to reduce the projected payout ratio to 60.5%.
• Blackstone reported quarterly EPS of $1.32, beating estimates of $1.26, while revenue of $3.06 billion fell short of the $3.27 billion consensus and declined 0.8% year over year.

Blackstone Inc. (NYSE:BX - Get Free Report) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Monday, November 2nd will be given a dividend of $1.12 per share by the asset manager on Monday, November 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 2nd. This is a 13.2% decrease from Blackstone's previous quarterly dividend of $1.29.

Blackstone has increased its dividend by an average of 0.2% per year over the last three years. Blackstone has a payout ratio of 70.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Blackstone to earn $7.41 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 60.5%.

Blackstone Stock Performance

BX opened at $118.46 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.72 and a current ratio of 0.71. Blackstone has a 52-week low of $101.73 and a 52-week high of $165.14. The firm has a market cap of $88.92 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59. The business's fifty day moving average is $122.66 and its 200-day moving average is $124.46.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.06. Blackstone had a return on equity of 23.16% and a net margin of 22.11%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Blackstone's revenue for the quarter was down .8% compared to the same quarter last year. Sell-side analysts expect that Blackstone will post 5.89 EPS for the current fiscal year.

About Blackstone

Blackstone Inc NYSE: BX is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.

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