Apollo Global Management Raises Quarterly Dividend

Apollo Global Management, Inc. (APO) increased its quarterly dividend to $0.563 per share from $0.51, a 10.39% increase, with the shares trading ex-dividend on May 19, 2026.

The new payout implies an annual dividend of $2.25 per share and a forward annual yield of 1.7% based on a share price of $132.70. The increase marks Apollo's 3rd consecutive year of dividend growth, following a prior dividend cut in 2022.

Business Context

Apollo is a financial services company best known for alternative asset management and retirement-services businesses. The company describes itself as a platform spanning asset management, retirement solutions and capital solutions, with investment strategies across credit, equity, real assets and related financial-services areas.

The dividend increase comes after a mixed earnings backdrop. Apollo reported a first-quarter loss, driven by investment-related losses and a higher income-tax provision, according to The Wall Street Journal. The same report said adjusted earnings topped analyst expectations, while Apollo reported assets under management of $1.026 trillion and fee-generating assets under management of $836 billion. Fee-related earnings rose 30%, while spread-related earnings declined.

Recent reporting also points to pressure in parts of the private-credit market, a key area for Apollo and other alternative asset managers. The Wall Street Journal reported in May that Apollo had held talks to sell MidCap Financial Investment Corp., a publicly listed business-development company, amid higher defaults and a discount to net asset value. Separately, Barron's reported earlier in 2026 that Apollo sought to address investor concerns about software exposure, with management saying software represented a small share of total assets.

What It Means For Income Investors

For income investors, the increase raises Apollo's quarterly cash payout while keeping the stock's stated forward yield at 1.7%. The 3-year growth streak shows a return to dividend growth after the 2022 cut, but the company's safety score of 51 and C safety grade point to a midrange payout profile rather than a high-certainty income stream.

As with many alternative asset managers, Apollo's dividend backdrop depends on market conditions, fee-related earnings, investment performance and activity across credit and retirement-services businesses. The latest increase improves the current income run rate, but investors tracking dividend durability will likely focus on whether fee growth can offset volatility in investment results and spread-related earnings.