UPDATE: BlackRock Posts 24% Rise In Q4 Profit, Raises Dividend
BlackRock (NYSE: BLK) reported a 24% rise in its fourth-quarter profit and lifted its quarterly dividend by 12% to $1.68.
The company also lifted its share-buyback program by 7.5 million shares.
BlackRock's quarterly profit surged to $690 million, or $3.93 per share, from $555 million, or $3.05 per share, in the year-ago period. Excluding one-time items, BlackRock earned $3.96 per share.
Its revenue climbed 14% to $2.54 billion. However, analysts were expecting earnings of $3.73 per share on revenue of $2.49 billion.
BlackRock shares closed at $222.24 yesterday.
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