I had the date right but the wrong day of the week, sorry. I have a perpetual calander and the days didn't match the date. Fidelity only shows the date not the day of the week.
Sentiment: Strong Buy
Thursday is 2-13-14, not 2-14-14.
From Wikipedia, "In the United States, the Securities and Exchange Commission stipulates that there are three days of settlement for stock trades. The ex-dividend date is normally two business days (3 minus 1) before the record date."
So, according to APO's press release, the record date is Wednesday, Feb. 19, 2014. The Stock Market will be closed for the Presidents Day Holiday on Monday, Feb. 17, 2014. So the X-Dividend date should be Friday, Feb. 14, 2014 (2 business days before Record Date).
This is confusing enough, especially with a holiday involved, but it sounds like Fidelity is further confusing the issue by calling Thursday Feb. 14 instead of Feb. 13.
With 4 young Grandchildren I KNOW that February 14 is Friday and that day is VALENTINE's DAY. I just mailed the cards this morning.
According to APO's Press Release, I believe you would need to buy the stock before close of business on Thursday, Feb. 13, 2014 and it will start trading X-Dividend on Friday, Feb. 14, 2014.
"Along with the earnings release, Apollo has declared a quarterly cash distribution of $1.08 per Class A share. This comprises a regular quarterly distribution of 15 cents per Class A share and a distribution of 93 cents per Class A share attributable to additional carried interest earned by its funds through realizations and Management Business earnings. This distribution will be paid on Feb 26, 2014 to holders of record at the close of business on Feb 19, 2014."
I am a fan of the company yet don't see the drivers for a 4.50 dividend in 2014. Can you share your thoughts on what gets you to the 4.50? I see more like 2.90, still a very attractive yield with upside in the stock.
February 10, 2014
07:32 EDT APO Apollo Global upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Apollo Global citing improving distribution visibility following the company's Q4 results. Citi raised its price target for shares to $36 from $35.
Apollo Global Management, LLC has declared a fourth quarter 2013 cash distribution of $1.08 per Class A share, which comprises a regular quarterly distribution of $0.15 per Class A share and a distribution of $0.93 per Class A share attributable to additional carried interest earned by our funds through realizations and Management Business earnings. This distribution will be paid on February 26, 2014 to holders of record at the close of business on February 19, 2014.
Fully agree. This stock and the entire alternative management sector is not well understood by investors. While dividends can be lumpy because of the realization cycle their standard dividend of .15 per share is driven by management fees. With 163bn of assets, this number will grow. The investment professionals in this company have a proven track record so this is a stock to own. Good luck.
Dividend - if a person purchased shares this AM (2/7/14) at around $32, would receive 3.34% on their investment for one quarter. we still have three quarters to go. 2013s total dividend of $3.98 per share, based on todays price ($32.00) is 12.43%.
My opinion, APO will pay a dividend of $4.50 per share in 2014, yielding 9% on current price in 2014, which means APO should be $50 per share.
I consider my investment in APO a high yield paying bond.
Sentiment: Strong Buy
Agree. If I understand it correctly, anyone can write an article for SA and you get paid by the number of hits. Nevertheless, it is a very well written article and seems to make sense. Earnings announcement tomorrow should provide a nice lift.
I own APO and hope they're right. But .... there's a handful of good writers on SA and a pile that suck. So take anything you read there with a grain of salt.
Great article summed up by:
"Editor's notes: APO is generating outstanding investment returns, and has unique catalysts from its relationship with insurance company Athene. The stock is inexpensive and could see more than 50% upside."