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Jan. 21, 2021, 1:14 p.m. EST

BlackRock raises dividend by 14%, with first new payout in March

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By Tomi Kilgore

BlackRock Inc. /zigman2/quotes/207946232/composite BLK -0.40% said Thursday that it will raise its dividend by 14%. The investment management's new quarterly dividend of $4.13 a share, up from $3.63 a share, will be payable March 23 to shareholders of record on March 5. The stock slipped 0.1% in afternoon trading. At current prices, the new annual dividend rate implies a dividend yield of 2.23%, compared with the dividend yield for the SPDR Financial Select Sector ETF /zigman2/quotes/209660484/composite XLF -0.36% of 1.95% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.81% of 1.48%, according to FactSet. BlackRock's stock has gained 16.7% over the past three months, while the financial ETF has rallied 24.1% and the S&P 500 has advanced 12.1%.

/zigman2/quotes/207946232/composite
US : U.S.: NYSE
$ 716.31
-2.89 -0.40%
Volume: 455,226
March 2, 2021 4:00p
P/E Ratio
22.46
Dividend Yield
2.31%
Market Cap
$109.77 billion
Rev. per Employee
$1.03M
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/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 33.20
-0.12 -0.36%
Volume: 49.99M
March 2, 2021 8:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,870.29
-31.53 -0.81%
Volume: 2.28B
March 2, 2021 5:08p
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