BlackRock (NYSE: BLK) on Thursday reported higher fourth-quarter earnings, boosted its dividend and expanded its share buyback program as the ETF business continue to drive its bottom line.
The asset manager said its iShares ETF lineup attracted net inflows of $35.7 billion in the quarter. The iShares business accounts for $752.7 billion, or 22% of BlackRock’s total long-term assets under management.
Earlier this month, reports surfaced that BlackRock would buy the European ETF business of Credit Suisse (NYSE: CS). [BlackRock to Acquire Credit Suisse ETF Business]
BlackRock led all ETF providers in terms of 2012 inflows after trailing rival Vanguard for two years. [iShares Takes Back the ETF Inflow Crown]