By Ben Glickman


BlackRock raised its quarterly dividend by 2% after its assets under management topped $10 trillion for the second time in its history.

The asset manager said Friday it was raising its payout to shareholders to $5.10 a share from $5 a share.

The new dividend, equal to $20.40 a year, represents an annual yield of 2.57% based on Thursday's closing price of $792.61. BlackRock last lifted its payout in January 2023, when it raised its dividend to $5 from $4.88.

BlackRock said on Friday it would acquire private-equity firm Global Infrastructure Partners for about $12.5 billion in cash and stock.

Chief Executive Larry Fink said BlackRock was entering this year with $10 trillion in assets under management and accelerating flows.


Write to Ben Glickman at ben.glickman@wsj.com


(END) Dow Jones Newswires

01-12-24 0628ET