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Och-Ziff increases dividend


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Och-Ziff increases dividend

Och-Ziff Capital Management Group LLC's board has approved a quarterly dividend of 7 cents per class A share, up from 2 cents per share in the third quarter of 2017.

The dividend is payable March 5 to shareholders of record as of Feb. 26.

Also, the company reported GAAP net income attributable to class A shareholders of $6.6 million, or 3 cents per class A share, in the fourth quarter of 2017, up from $2.9 million, or 2 cents per class A share, in the prior-year quarter.

Distributable earnings were $149.4 million, or 27 cents per adjusted class A share in the fourth quarter, up from $7.5 million, or 1 cent per adjusted class A share, in the previous-year period.

The S&P Capital IQ consensus normalized EPS estimate for the fourth quarter was 30 cents, with five analysts providing estimates.