BlackRock Hikes Dividend; To Repurchase Addl 6 Mln Shares

(RTTNews) - BlackRock Inc. (BLK) said that its board approved a 9% increase in the quarterly cash dividend to $2.50 per share, payable March 23, 2017, to shareholders of record at the close of business on March 6, 2017.

In addition, the Board authorized the repurchase of an additional 6 million shares under the Company's existing share repurchase program for a total up to 9 million shares of BlackRock common stock.

Laurence Fink, Chairman and CEO of BlackRock sai, "2016 total net inflows of $202 billion were positive across product types and included $181 billion of long-term net inflows."