BlackRock (BLK) to Issue Quarterly Dividend of $5.73 on June 23rd

BlackRock (NYSE:BLK) declared a quarterly dividend on Wednesday, May 20th. Stockholders of record on Friday, June 5th will be given a dividend of 5.73 per share by the asset manager on Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th.

BlackRock has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 16 consecutive years. BlackRock has a payout ratio of 45.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect BlackRock to earn $60.99 per share next year, which means the company should continue to be able to cover its $22.92 annual dividend with an expected future payout ratio of 37.6%.

BlackRock Stock Performance

NYSE BLK opened at $1,062.54 on Friday. The firm has a market capitalization of $164.94 billion, a P/E ratio of 26.67, a P/E/G ratio of 1.37 and a beta of 1.44. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The business’s 50-day simple moving average is $1,015.65 and its 200-day simple moving average is $1,053.86.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating the consensus estimate of $12.40 by $0.13. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted $9.64 EPS. Equities analysts predict that BlackRock will post 52.77 EPS for the current year.

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.