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Today's conference call may include forward-looking statements, including statements regarding Lennar's business, financial condition, results of operations, cash flows, strategies and prospects. All of Millrose's operating costs will be paid by Kennedy Lewis through its managementfee and Millrose will have no employees of its own.
for the full year, strong levels of NII per share and DNII per share to fund our record level of annual shareholder dividends, and a new record for NAV per share for the 10th consecutive quarter. per share, representing an additional 41% paid to our shareholders in excess of our regular monthly dividends.
Some of the information we provide during today's call regarding our future expectations, plans, and prospects may constitute forward-looking statements. These capital market levers allow us to deploy intelligent leverage to increase our Bitcoin holdings in a manner which we believe has created shareholder value. Equity issuances.
We also maintained our disciplined approach to capital deployment, while continuing to invest in our businesses and returning excess capital to shareholders. Our growth strategy is further supported by our financial strength and our risk and capital management framework. Turning to Slide 3. Turning to Slide 4. Turning to Slide 5.
The Global Wealth and Investment Management segment also saw a 15% increase in revenue, strongly driven by higher asset managementfees. Nonetheless, the bank maintained strong capital management, returning $5.5 billion to shareholders, including $3.5 Net income for the segment was $1.2 billion compared to $1.1
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The continued positive momentum across our platform during 2023 allowed us to deliver significantly increased value to our shareholders, with a 25% increase in the total dividends paid to our shareholders in 2023. Despite this significant increase, our DNII still exceeded the total dividends paid to our shareholders by over 17%.
Jason, seems like maybe we got a little sandbagging, or should I be less cynical and just accept that maybe the prospects have changed for this business? As a PayPal shareholder, I also don't hate it. He called PayPal, "A great company with great prospects", trying to sell it as a growth story. I don't hate it.
Operator instructions] At this time, I would like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Great. We've done that while also returning 100% of earnings to shareholders over this period through dividends and share repurchases totaling over $30 billion.
Some of the information we provide during today's call regarding our future expectations, plans, and prospects may constitute forward-looking statements. It will continue to provide a unique value proposition for our shareholders. billion in equity in a manner that we believe to be accretive to existing shareholders to acquire Bitcoin.
for the quarter, a new record for NAV per share and NII per share and DNII per share that significantly exceeded the dividends paid to our shareholders. And this is after increasing the total dividends paid to our shareholders in the first quarter by 20% as compared to the same period of last year. per share or 9%.
Some of the information we provide during today's call regarding our future expectations, plans and prospects may constitute forward-looking statements. billion in equity in a manner that we believe to be accretive to existing shareholders. I will be your moderator for MicroStrategy's 2024 third-quarter earnings webinar. in 2021, 1.8%
He retired from our board effective with June's Annual Meeting after many years of service to Plymouth and its shareholders. That -- we do have several prospects that they're looking for to suit. And we'll continue to do that -- we're doing that because we believe we're adding – shareholders. And so, I thought that's a win-win.
To be clear, this is not just in size but more importantly, excellent risk-adjusted returns for our shareholders and LPs. As you think about all these comments, we're super excited where we are with the business and the prospects for the future. It's just real earnings that we're going to generate for shareholders and LPs.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Thanks, Katie, and good morning, and welcome to Blackstone's first-quarter conference call. Fee-related earnings increased 12% year over year to $1.2
I would suggest that the gauges measuring our total net investments, our underwriting and insurance earnings, our Markel Ventures earnings, and our recurring investment earnings would be the measurements that I, as your pilot and you as fellow shareholders should be monitoring. Net income to common shareholders was $2.2
As many of you know, we've gone through both a management and company restructure in the last 75 days. Yesterday, we announced management changes which provide clear direction on the two brands and position us with a leadership team that is now aligned with shareholders on incentives and driving value.
We returned $25 billion of capital to shareholders. Middle market banking revenue was down 2% from a year ago, driven by lower net interest income, reflecting higher deposit costs, partially offset by growth in treasury managementfees. We maintained a strong balance sheet. These actions helped to improve our ROTCE to 13.4%
We continue to cultivate high quality revenue streams, including advertising in video accounts and Weixin Search, mini games platform service fees, and e-commerce technology service fees, contributing to our gross and operating profit growth outpacing our revenue growth. That's the way we think about it.
All of the success and balance sheet strength allowed us to deliver more capital back to our shareholders. We returned $21 billion of capital to shareholders in 2024, which was 75% more than 2023 and included an 8% increase in the common dividend. Shareholders' equity was flat at around $295 billion. We drove healthy returns.
In addition, we have other levers to pull over time, such as capital allocation, DTA utilization, our G-SIB score, and our management buffer of 100 basis points. We are committed to returning capital to our shareholders as you saw with our decisions to repurchase $1 billion in common stock and increase the dividend.
Our disciplined approach to capital deployment, coupled with the added capital flexibility achieved through our de-risking transactions, enables us to effectively balance investing in the long-term growth of our businesses with returning capital to shareholders. Turning to Slide 12 and in summary. dollar and yen-denominated?
Our servicing activities, including recurring servicing fees and related placement fees, generated Q4 revenues of $121 million, up 18% year over year, offsetting the majority of the decline from investment managementfees. Willy Walker -- Chairman and Chief Executive Officer Thank you, Greg.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Thank you, Katie, and good morning. Our prospects are accelerating. along with a pipeline of additional prospects. Please go ahead. Europe and Asia.
I know I speak for the entire BlackRock board of directors, BlackRock's leadership team, and all of our employees when I say we could not be more excited about the prospects of the BlackRock family with our colleagues from GIP. billion to our shareholders through a combination of dividends and share repurchases.
Regarding investment decisions, virtually all analysts will advise prospectiveshareholders not to hold just one stock. Even if an investment thesis appears promising, a changing marketplace or poor management decisions can derail a stock's growth trajectory. Moreover, managementfees are reasonable.
Some of the information we provide during today's call regarding our future expectations, plans, and prospects may constitute forward-looking statements. These capital market levers allow us to deploy intelligent leverage to increase our Bitcoin holdings in a manner which we believe has created shareholder value.
We'd also like to remind everyone that we'll refer to non-GAAP measures on the call, which are reconciled to GAAP figures in our earnings presentation available on the Shareholders section of our website at blueowl.com. For our shareholders, the proposition remains simple. For many of our products, there is zero redemption.
We'd also like to remind everyone that we'll refer to non-GAAP measures on the call, which are reconciled to GAAP figures in our earnings presentation, available on the Shareholders section of our website at blueowl.com. This not only benefits the current investors in our strategy to provide an excellent case study for prospective investors.
Then the big one that I think is going to make registered investment advisories sweat a little bit is they are collapsing the fees. Basically, if you have Robinhood as a Robo advisor, they start at 0.25% of a managementfee, but they cap it out at 250 bucks a year. Stocks more than doubled over the past year.
Our focus on taking care of our customers at time of need, supporting our employees to provide excellent service, and engaging in our communities has the profound effect of building a durable franchise that delivers significant value for our shareholders. billion to shareholders in the form of share repurchases and dividends.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Great. and our prospects are very strong. I am highly enthusiastic about what we will accomplish for our shareholders in 2024. Please go ahead.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Great. Our positioning has never been stronger nor our prospects brighter. First, with respect to fee-related earnings. Today's call is being recorded.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Great. Notwithstanding the temporary impact from these fee holidays, managementfees increased 5% year over year to a record $1.8 Please go ahead.
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