Ares Management Corp. ARES said Thursday it’s raising its quarterly dividend by 26% to 77 cents a share from 61 cents a share. The alternative money manager said shareholders of record as of March 17 will be paid the dividend on March 31. Ares said its fourth-quarter profit fell to $117.5 million, or 62 cents a share, from $124.1 million, or 66 cents a share, in the year-ago quarter. The company reported after-tax realized income of $1.21 a share, ahead of the analyst estimate of $1.07 a share, according to estimates compiled by FactSet. Revenue fell to $937.7 million from $1.31 billion, but beat the Wall Street target of $889.7 million. Ares stock is up 25% in 2023, compared to a 7.3% gain by the S&P 500 SPX.
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