In 2016, the world’s largest asset manager BlackRock logged record new cash. The company’s total asset under management rose by 11% to $5.14 trillion thanks to the net inflow of $202 billion.
The net profit of BlackRock dropped by 5% to $3.17 billion, and revenues declined by 2% to $11.16.
In the fourth quarter of 2016, the company’s profit fell by 1% to $851 million, while revenue grew by 1% to $2.89 billion. Net inflows in the last three months of 2016 amounted to $98 billion.
BlackRock said that it would increase its quarterly cash dividend to $2.50 a share, a 9% increase, and would buy back additional 6 million shares within its current program.
In 2016, the company returned $2.7 billion to shareholders.
Last week BlackRock shares closed up by 0.5%. Throughout 2016, the shares added 12%.
