Blackstone Group 1Q profit surges, record dividend announced

April 16, 2015 1:07 PM

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The Blackstone Group L.P. reported a surge in first-quarter profit on increased asset activity, prompting it to announce it would pay shareholders its highest quarterly dividend ever.

The private equity firm earned $629.5 million, or $1.05 per share, up from $265.6 million, or 40 cents per share, a year ago. Revenue jumped 66 percent to $2.5 billion from $1.5 billion.

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