Blackstone Inc. (NYSE:BX) Announces $1.16 Quarterly Dividend

Blackstone Inc. (NYSE:BX) announced a quarterly dividend on Tuesday, April 21st. Stockholders of record on Monday, May 4th will be paid a dividend of 1.16 per share by the asset manager on Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, May 4th.

Blackstone has raised its dividend by an average of 0.2%annually over the last three years. Blackstone has a payout ratio of 72.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Blackstone to earn $7.68 per share next year, which means the company should continue to be able to cover its $4.64 annual dividend with an expected future payout ratio of 60.4%.

Blackstone Trading Up 0.8%

Shares of NYSE:BX traded up $0.98 during trading on Friday, reaching $126.56. 5,647,676 shares of the stock were exchanged, compared to its average volume of 6,265,798. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone has a 12-month low of $101.73 and a 12-month high of $190.09. The firm has a market cap of $93.93 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 1.37 and a beta of 1.74. The firm’s 50-day moving average price is $115.95 and its 200 day moving average price is $137.27.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 EPS. On average, sell-side analysts anticipate that Blackstone will post 5.91 earnings per share 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.