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