KKR & Co. Q4 Fee Related Profit Rises

(RTTNews) - KKR & Co. Inc. (KKR) said fourth quarter had record Fee Related Earnings and was its most active fundraising and deployment quarter of 2023. Assets Under Management or AUM was $553 billion, up 10% year-over-year, with $31 billion of organic new capital raised in the quarter.

Fourth quarter net income to stockholders totaled $1.04 billion, or $1.14 per share compared with $121.11 million, or $0.14 per share, a year ago. Fee Related Earnings was $675 million or $0.76 per adjusted share, up 21% year-over-year. After-tax Distributable Earnings was $888 million or $1.00 per adjusted share, up 4% year-over-year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.91, for the quarter. Analysts' estimates typically exclude special items.

The company's revenue for the quarter increased to $4.43 billion from $2.52 billion last year. Total Asset Management Segment Revenues were $1.63 billion compared to $1.48 billion, previous year. Analysts on average had estimated $1.61 billion in revenue.

Beginning with the dividend to be announced with the results of the quarter ending March 31, 2024, the company plans to increase regular annualized dividend per share of common stock from $0.66 to $0.70.

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