On November 1, 2023, Apollo Global Management Inc (APO, Financial) released its earnings report for the third quarter ended September 30, 2023. Despite challenging market conditions, the company's differentiated business model demonstrated resilience and growth, as noted by CEO Marc Rowan.
CEO Commentary
Marc Rowan, Chief Executive Officer at Apollo, commented on the company's performance, stating,
“Amid challenging market conditions for many, the resilience and growth characteristics of our differentiated business model are evident. The combined strength of our leading Asset Management and Retirement Services franchises positions us well to benefit in the current environment while providing unparalleled alignment with our clients. These are the periods in which we excel, and we’re on track to complete a strong year of execution.”
Dividend Declaration
Apollo Global Management Inc (APO, Financial) has declared a cash dividend of $0.43 per share of its Common Stock for the third quarter ended September 30, 2023. This dividend will be paid on November 30, 2023, to holders of record at the close of business on November 17, 2023. Additionally, a cash dividend of $0.8438 per share of its 6.75% Series A Mandatory Convertible Preferred Stock has been declared, which will be paid on January 31, 2024, to holders of record at the close of business on January 15, 2024.
Company Overview and Performance
Apollo is a high-growth, global alternative asset manager. The company seeks to provide its clients with excess return at every point along the risk-reward spectrum from investment grade to private equity. As of September 30, 2023, Apollo had approximately $631 billion of assets under management.
Despite the challenging market conditions, Apollo's business model has shown resilience and growth. The company's Asset Management and Retirement Services franchises have been highlighted as key strengths, positioning the company well in the current environment.
For more details on Apollo Global Management Inc (APO, Financial)'s Q3 2023 results, visit the company's Investor Relations website at ir.apollo.com.
Explore the complete 8-K earnings release (here) from Apollo Global Management Inc for further details.
