Apollo Global Management Inc. (NYSE:APO) Increases Dividend to $0.56 Per Share
by Teresa Graham · The Cerbat GemApollo Global Management Inc. (NYSE:APO – Get Free Report) declared a quarterly dividend on Wednesday, May 6th. Shareholders of record on Tuesday, May 19th will be given a dividend of 0.5625 per share by the financial services provider on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, May 19th. This is a 10.3% increase from Apollo Global Management’s previous quarterly dividend of $0.51.
Apollo Global Management has decreased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 3 years. Apollo Global Management has a dividend payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Apollo Global Management to earn $10.20 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 20.0%.
Apollo Global Management Trading Down 0.5%
Shares of APO stock traded down $0.71 during trading hours on Wednesday, hitting $129.59. The company had a trading volume of 4,500,629 shares, compared to its average volume of 5,019,751. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $74.94 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.52. The company’s fifty day moving average is $113.15 and its 200 day moving average is $127.31. Apollo Global Management has a fifty-two week low of $99.56 and a fifty-two week high of $157.28.
Apollo Global Management (NYSE:APO – Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 15.25% and a net margin of 10.90%.The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the company earned $1.82 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Research analysts expect that Apollo Global Management will post 8.44 earnings per share for the current fiscal year.
About Apollo Global Management
Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.
Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.