Apollo Global Management, Inc., has announced its fourth quarterly and full year's earnings results on February 3, 2021. The fourth quarter values the net income at $434.1 million, or $1.80 EPS with the capital inflows of $13.3 billion.
Despite the disturbances, caused due to the relationship between Leon Black, chairman and CEO of Apollo and his disreputed financier Jeffrey Epstein, the private equity firm has soared in its earnings.
The distributable profits were $317.4 million or $0.72 per share, and the fee-related earnings were $275.8 million or $0.63 per share, i.e., 14% up from Q4 2019. Although the net profits have risen from the previous year's fourth-quarter earnings, i.e., $166 million, or 68 cents a share, the distributable earnings decreased by $137.5 million.
Headquartered in NewYork City, Apollo has more than 15 offices, above 1,700 employees, and 550 investment professionals worldwide. Apollo lists on the New York Stock exchange with a market capitalization of $11.283 billion. The company specializes in dealing with loans, private equity and tangible assets. The University of Phoenix, Smart and Final, Shutterfly, Redbox, Rackspace, Intrado, Cox Media Group, CareerBuilder and ADT are among the most prominent companies that Apollo has involvement in.
A slower rate of disposing of assets was driving the decline. Apollo returned shareholders $3.5 billion in the capital against $5.5 billion a year ago. For the quarter ended on December 31, 2020, Apollo announced a cash dividend of $0.60 per share of its Class A Common Stock.
Furthermore, Apollo proclaimed a cash dividend of $0.398438 per share of each of its Preferred Stock Series A and Preferred Stock Series B, distributed to the stockholders at the end of the financial year, March 15, 2021. During the year, Apollo spent a total of $23.8 billion in a variety of fields.
In December, the company said it had purchased a 49.9% stake in the metal container plants of Anheuser-Busch InBev NV in the United States for approximately $3 billion. And the company signed an agreement to acquire casino operator Great Canadian Gaming Corp. in November.