Evercore raises quarter dividend
EVERCORE Partners’ quarterly earnings topped expectations yesterday as the boutique investment bank earned more fees from advising clients despite a tepid merger market.
The company also raised its quarterly dividend by 11 per cent to 20 cents a share, effective in the fourth quarter.
On an adjusted, pro-forma basis, the firm earned 46 cents a share, on revenue of $163.9m (£101.8m).
Investment banking revenue rose 38 per cent.