NEW YORK (AP) — BlackRock's fourth-quarter net income climbed 24 percent as the value of the assets it managed for its clients grew and performance fees increased. Its performance topped analysts' estimates.

The investment manager also raised its quarterly dividend by 12 percent and said it may buy back more stock. Shares rose in premarket trading Thursday.

For the three months ended Dec. 31, BlackRock Inc. earned $690 million, or $3.93 per share. That's up from $555 million, or $3.05 per share, the year before. Excluding a funding obligation and other one-time items, per-share earnings were $3.96, beating the $3.72 prediction of analysts polled by FactSet.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.