By Robb M. Stewart

 

BlackRock Inc. will boost its quarterly dividend 14% in the wake of a surge in the money-management giant's profit in the last three months of last year.

BlackRock on Thursday said its board approved a quarterly payout of $4.13 a share.

Last week, the company posted a rise in fourth-quarter profit of $1.5 billion, or $10.02 a share, from $1.3 billion, or $8.29 a share, a year earlier. Revenue for the period climbed 14% to about $4.5 billion.

The dividend will be paid March 23 to shareholders of record at the close of business March 5, BlackRock said.

 

Write to Robb M. Stewart at robb.stewart@wsj.com

 

(END) Dow Jones Newswires

January 21, 2021 13:26 ET (18:26 GMT)

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