Our analysis is based on comparing AllianceBernstein Holding LP with the following peers – GAMCO Investors, Inc. Class A, Waddell & Reed Financial, Inc. Class A, Eaton Vance Corp., BlackRock, Inc., Affiliated Managers Group, Inc., Legg Mason, Inc., Franklin Resources, Inc., Lazard Ltd Class A, Oaktree Capital Group, LLC Class A and AXA SA Sponsored ADR (GBL-US, WDR-US, EV-US, BLK-US, AMG-US, LM-US, BEN-US, LAZ-US, OAK-US and AXAHY-US).
AllianceBernstein Holding LP’s dividend yield is 10.06 percent and its dividend payout is 97.64 percent. This compares to a peer median dividend yield of 2.58 percent and a payout level of 45.83 percent. This type of dividend performance might make it a good stock for dividend investors. However, the company’s average dividend quality score of 42 out of a possible score of 100, points to some weakness in the sustainability of its robust payout ratio, and makes its less attractive for dividend investors seeking current income.
Dividend Quality Overview
- Over the last twelve months (prior to September 30, 2017), AB-US paid a medium quality dividend, which represents a yield of 8.07% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 1 was high quality and 4 were medium quality.
- The ending cash balance is less than the last full year dividend payment and cannot be relied on to cushion any significant reduction of cash flows in the future.
Quadrant label definitions. Hover to know more
Over the last twelve months (prior to September 30, 2017), AB-US paid a medium quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 1.00x), investing cash flow (coverage of -0.11x), issuance cash flow (coverage of 0.11x) and twelve-month prior cash (coverage of 0x), for a total dividend coverage of 1x.
These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.
|Dividend Yield (%)||4.82||6.98||7.03||8.07||7.5||10.06|
|Dividend Payout (%)||186.27||92.98||101.61||103.76||78.48||97.64|
A complete list of metrics and analysis is available on the company page.
AllianceBernstein Holding LP engages in the provision of research, diversified investment management, and related services. It includes investment trusts, mutual funds, hedge funds and other investment vehicles. The company was founded in October 2000 and is headquartered in New York, NY.
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