Blackstone Q4 Profit Down, Declares Dividend

(RTTNews) - Blackstone Inc. (BX), an alternative asset manager, reported Thursday that its fourth-quarter net income attributable to the company was $557.85 million, down from last year's $1.40 billion.

Earnings per share were $0.75, compared to $1.92 last year.

Fee Related earnings per share were $0.88, down from $1.52 last year. Distributable earnings per share fell to $1.07 from last year's $1.71.

On average, 16 analysts polled by Thomson Reuters expected earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues fell to $1.70 billion from prior year's $5.76 billion.

Management and Advisory Fees, Net grew to $1.65 billion from $1.46 billion a year ago.

Total Assets Under Management was $974.7 billion, up 11 percent year-over-year.

Blackstone said it has declared a quarterly dividend of $0.91 per share to record holders of common stock at the close of business on February 6. This dividend will be paid on February 13.

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