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Apollo Revenue Climbs as Good points Outpace Broader Markets

Apollo International Administration Inc. reported greater second-quarter revenue Wednesday, as the worth of its private-equity portfolio climbed quicker than the broader market.

The New York agency posted web earnings of $657.7 million, or $2.70 a share, up from $446.3 million or $1.84 a share, a 12 months earlier.

Apollo’s private-equity portfolio appreciated by 9.5% in the course of the quarter, topping the roughly 8% acquire for the S&P 500.

The agency’s distributable earnings, or money that could possibly be returned to shareholders, got here in at $501.6 million, or $1.14 a share, in contrast with $205.2 million, or 46 cents a share, within the second quarter of 2020. The determine for the newest interval marked the agency’s highest distributable earnings since 2013, because it offered off extra property from its eighth flagship private-equity fund.

Apollo stated it could pay a dividend of fifty cents a share, in contrast with 49 cents within the second quarter of 2020. In March, the agency introduced a deal to purchase the 65% of insurance coverage affiliate Athene Holding Ltd. that it doesn’t already personal. Apollo plans to pay an annual dividend of $1.60 a share following the closure of that deal, anticipated in January 2022.

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