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Houlihan Lokey board hikes dividend

Houlihan Lokey Inc.'s board has declared a quarterly cash dividend of 27 cents per class A and class B common share, up from the previous payout of 20 cents per class A and class B common share.

The dividend is payable June 15 to shareholders of record as of the close of business June 4.

Houlihan Lokey also posted fiscal fourth-quarter 2018 net income attributable to the company of $38.1 million, or 58 cents per share, compared with $34.1 million, or 51 cents per common share, in the prior-year fiscal quarter.

Adjusted net income for the quarter was $43.0 million, or 65 cents per share, versus $39.5 million, or 59 cents per common share, in the prior-year fiscal quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 58 cents.

For its fiscal year ended March 31, Houlihan Lokey had net income attributable to the company of $172.3 million, or $2.60 per share, compared with $108.3 million, or $1.63 per share, in the prior-year quarter.

Adjusted net income for the fiscal year was $158.7 million, or $2.39 per share, compared with $125.6 million, or $1.89 per share, in the prior fiscal year.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal year was $2.32.