Ares Management Corporation (NYSE:ARES) will begin trading ex-dividend on September 15, 2020. The quarterly dividend payment of $ 0.40 per share is scheduled to be paid on September 30, 2020. The dividend yield based on the latest trading day closing price was 4.06 %. To secure the dividend payout, investors must buy the stock prior to the ex-dividend date..
Dividends History
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Ares Management Corporation recently reported second quarter financial results on August 5, 2020, before market open, the Los Angeles based company disclosed income for the second quarter of $ 0.39 per share, from the revenue of $ 277.67 million. The quarterly earnings boosted 21.88 percent while revenues reduced 7.77 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.38 per share from $ 343.00 million in revenue. The bottom line results beat street analysts by $ 0.01 or 2.63 percent, at the same time, top line results fell short of analysts by $ 65.33 million or 19.05 percent.
Stock Performance
Shares of Ares Management Corporation traded up $ 0.03 or 0.08 percent on Thursday, reaching $ 39.39 with volume of 919.20 thousand shares. Ares Management Corporation has traded high as $ 40.30 and has cracked $ 39.19 on the downward trend
According to the previous trading day, closing price of $ 39.39, representing a 94.85 % increase from the 52 week low of $ 20.20 and a 7.17 % decrease over the 52 week high of $ 42.40.
The company has a market capital of $ 5.64 billion and is part of the Financial Services sector and Asset Management industry.
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The companys Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies.
