RTTNews | Jan 14, 2022 06:49AM EST

06:48 Friday, January 14, 2022 (RTTNews.com) - BlackRock, Inc. (BLK) reported that its fourth-quarter net income increased to $1.64 billion or $10.63 per share from $1.55 billion or $10.02 per share in the year-ago quarter.

Excluding items, adjusted net income for the quarter was $1.61 billion or $10.42 per share, compared to $1.57 billion or $10.18 per share in the prior-year quarter.

Total revenue for the quarter increased 14 percent to $5.11 billion from $4.48 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $10.15 per share on revenues to $5.17 billion for the quarter. Analysts' estimates typically exclude special items.

BlackRock's Board of Directors also approved an 18% increase in the quarterly cash dividend to $4.88 per share, payable March 23, 2022, to shareholders of record at the close of business on March 7, 2022.

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