Apollo Global ( (APO) ) has released its Q3 earnings. Here is a breakdown of the information Apollo Global presented to its investors.
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Apollo Global Management, Inc. is a leading global alternative asset manager that operates in the financial services sector, offering a wide range of investment solutions including investment grade credit, private equity, and retirement savings products through its subsidiary Athene.
In its third quarter of 2024, Apollo Global Management reported robust financial results, indicating strong momentum across its platform. The company is executing a strategic growth plan aimed at capitalizing on significant market opportunities, as highlighted by CEO Marc Rowan.
A notable highlight from the earnings report is the declaration of a cash dividend of $0.4625 per share of Common Stock, payable later in November, and a dividend of $0.8438 per share of Mandatory Convertible Preferred Stock, set for payment in January 2025. These financial maneuvers reflect Apollo’s stable liquidity position and commitment to returning value to shareholders.
With approximately $733 billion in assets under management as of the end of September 2024, Apollo is well-positioned to leverage its expertise in alternative asset management and retirement services to drive future growth. The company’s management remains optimistic about its ability to navigate the current economic landscape and achieve its long-term strategic objectives.
