Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “Blackstone’s first-quarter financial results reflect the unprecedented market and global economic conditions caused by the COVID-19 pandemic.
Despite the extremely challenging environment, we continued to generate significant cash flow for our shareholders, distributing over $700 million through dividends and share repurchases in the quarter, and $3.2 billion over the last twelve months. Throughout our firm’s 35-year history, we have weathered many difficult periods - including the global financial crisis - only to emerge stronger than before. Our experience has shown that although asset values may be temporarily marked down, strong assets ultimately recover.”
Mr. Schwarzman continued, “We entered this crisis in a position of great strength, having recently completed a two-year fundraising cycle of nearly $250 billion. With ample capital reserves, long-term fund structures, and over $150 billion of dry powder capital – more than anyone in our industry – we are uniquely positioned to invest on behalf of our clients at a time of historic dislocation.”
SEE first quarter 2020 results
Dividend
Blackstone has declared a quarterly dividend of $0.39 per share to record holders of Class A common stock at the close of business on May 4, 2020. This dividend will be paid on May 11, 2020.
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