BlackRock Q4 Profit Rises, Tops Estimates; Hikes Dividend - Quick Facts

(RTTNews) - Investment manager BlackRock Inc. (BLK) said Thursday that its fourth-quarter net income attributable to the company increased to $841 million or $4.86 per share, from $690 million or $3.93 per share in the same quarter last year.

Allocation of net income, as adjusted, to common shares grew to $851 million from the previous year's $694 million, with adjusted earnings per share improving to $4.92 from $3.96 in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $4.33 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues rose to $2.78 billion from $2.54 billion in the prior year quarter, reflecting growth in markets, long-term net inflows and strength in performance fees and BlackRock Solutions. Fifteen analysts had consensus revenue estimate of $2.68 billion for the quarter.

Revenue used for operating margin measurement grew to $2.676 billion from last year's $2.445 billion.

The company said its board approved 15% increase in quarterly dividend to $1.93 per share. The board has declared a quarterly cash dividend of $1.93 per share of common stock, payable March 24, 2014 to shareholders of record at the close of business on March 7, 2014.