BlackRock Inc., the world’s biggest asset manager, said fourth-quarter profit increased 22 percent as investors put money into funds, boosting client assets and fees for managing them.
Net income rose to $841 million, or $4.86 a share, from $690 million, or $3.93, a year earlier, the New York-based company said Thursday in a statement. Adjusted profit of $4.92 beat the $4.33 a share average estimate of 19 analysts surveyed by Bloomberg, excluding certain items. BlackRock increased its quarterly dividend by 15 percent to $1.93 per share.
