Blackstone (BX) pays out a targeted 85% of each quarter's distributable per-share earnings as its dividend, so the amount changes every quarter. This differs from firms like Franklin Templeton and T. Rowe Price, which have committed to minimum quarterly dividend payments. Asset managers earn fees as a percentage of assets under management, so revenue is fairly predictable, though it still shifts with market moves and operating costs. The article notes Blackstone's dividend has grown faster than most managers' over the past decade but more erratically, so it cannot meet the need for steady dividend income, while offering exposure to alternative investments such as private credit and real estate.
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