The dividends are very confusing since they are erratic and based on their internal earnings, which comes from asset sales, and income from assets held. So, during any given quarter, one will be better than another.
From various sites, I am picking up that KKR has better dividend yield at the March-2013 prices (when I am writing this note) than APO, but again this takes into account past dividends, which is not indicative of future dividends in this sort of an enterprise business (based on valuation and income from financial asset investments).
I am not sure that you will get a convincing message to buy one over another. It might be best to divide the money and get into more than 1. I am doing some comparisons of fundamentals and charts at the current prices, and one of them is NOT jumping out at me. Of course, things are at a new high (or close to it), but even the fundamentals are telling a mixed story. From a news standpoint it seems that KKR has a long time history and a good diversified portfolio, but APO has some other fundas that are better. So not sure if one pick is better than another (IMHO).
1. See the institutional holding......Really Low.
2. See the dividend increases......Really High.
3. See the deals that they are making (and going to make).......Good ones (not 100%)
4. Finally, the entry way into LATAM, China and India is going to be the Kicker!
Buy in DCA (dollar cost averaging) mode and hold on for the ride. And, while we take the ride, we get paid handsomely. Great alternative to bonds and debt holdings. Of course, with a market correction in the summer, this stock will go down too, but that is when you add more to your holdings.
I am no guru or forecaster, but putting my hard earned money with this writeup.