Apollo Global Management Q4 Distributable Profit Rises

(RTTNews) - Apollo Global Management, Inc. (APO) reported fourth quarter distributable earnings per share of $1.05 compared to $0.72 per share, last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.09, for the quarter. Analysts' estimates typically exclude special items.

Net income to class A shareholders was $234.4 million or $0.91 per share compared to $424.9 million or $1.80 per share, last year. The company noted that expenses included recognition of a one-time non cash charge of $0.9 billion, for the quarter.

Total revenues was $1.20 billion compared to $1.30 billion, prior year. Total segment revenues increased to $1.02 billion from $715.85 million. Analysts on average had estimated $1.15 billion in revenue.

The company reported that total assets under management increased to $497.6 billion during the quarter, driven by growth of retirement services clients and strong third-party fundraising.

Apollo Global Management, Inc. has declared a cash dividend of $0.40 per share for the fourth quarter. The dividend will be paid on February 28, 2022 to holders of record at the close of business on February 18, 2022.

Apollo plans to distribute to its common stockholders an annual dividend of $1.60 per share of common stock, with increases based on growth of the business, as determined by the board.