Blackstone reported lower profit as higher rates, inflation and a choppy market slowed dealmaking and investment exits, yet its shares rose 4.04% in early trading. The article explains that asset managers such as Blackstone, Franklin Templeton and Invesco pay dividends from fees on assets under management, so market rallies can lift payouts. Blackstone has no fixed dividend and pays about 85% of distributable earnings each quarter; its latest $1.29 payment reflects a payout of about 84.9% of distributable earnings of $1.52 per share, or about 117.5% of trailing GAAP earnings. With a 4.88% yield and the stock down 23.77% this year, the article warns that income depends on realizations and the $1.29 dividend could be followed by a smaller one.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Blackstone’s Profits Fell, but Its Stock Rose 4%. Here’s What Dividend Investors See
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