This Ultra-High-Yield Dividend Stock's Solid Showing Should Calm Investor Concerns
Blackstone (NYSE: BX) endured a tumultuous year in 2022. Investors were spooked by news that it saw a surge in redemptions at its non-traded real estate investment trust (REIT), causing concerns about that core product. Those worries weighed heavily on Blackstone stock, which shed more than 40% of its value last year.
However, as the company's recently reported fourth-quarter results show, investors have no reason to fear. The company was able to declare a $0.91 per share dividend for the quarter, slightly higher than the previous payment. Dividends paid over the past year give it a 5.5% yield at the recent share price, significantly above the S&P 500's 1.7% yield.
Blackstone ended 2022 with nearly $975 billion of total assets under management (AUM), up 11% year over year. That included $718.4 million of fee-earning AUM, which also rose 11% from the prior year.
Source Fool.com
