High Dividend Stocks — Blackstone Group (BX)
Market Cap: $18.9 billion
Dividend Yield: 4.1%
Blackstone Group (BX) is a money management and private equity group that is one of the biggest names in capital markets. While the 2008 and 2009 downturn was obviously ugly for Blackstone … the resulting recovery for the economy, the financial sector and the broader investing community has resulted in a huge run for BX stock.
Blackstone is up over 65% in the last year, and has roughly tripled from its 2012 lows. But thanks to the structure of the partnership, dividends have increased dramatically in the same period — from 10 cents in mid-2012 to a payday of 58 cents to start 2014.
While it’s difficult to calculate yield based on these volatile payments, the last four dividend payments to BX stockholders add up to $1.34 — good for a 4.1% yield.
The firm saw its asset under management grow to record levels on 2013 on the back of a roaring stock market, and there is nothing preventing Blackstone from continuing that trend going forward. A robust IPO and private equity market coupled with improving investor sentiment should help both sides of this company’s business via both money management as well as business investment deals.
In January, Blackstone just reported that its fiscal Q4 earnings more than doubled year-over-year and the company continues to perform well in 2014. If you’re looking for solid dividend stocks, you could do a lot worse than BX stock.