Ares Management (ARES) Jumps 5.45% Ahead of 2 Dividends

Ares Management Corp. (NYSE:ARES) is one of the 10 Must-Watch Stocks Right Now.

Ares Management rebounded by 5.45 percent on Friday to close at $101.76 apiece, as investors gobbled up shares ahead of the cutoff date to qualify for its upcoming dividend payment, while resorting to bargain-hunting after falling to a new record low the day prior.

Last month, Ares Management Corp. announced that it would distribute $1.35 dividends per share to all Class A and non-voting common stockholders of record as of Tuesday, March 17. The dividends will be paid on March 31.

Ares Management (ARES) Jumps 5.45% Ahead of 2 Dividends

Meanwhile, holders of Series B mandatory convertible preferred shares of record as of Sunday, March 15, are set to receive a quarterly dividend of $0.84375 per share on April 1.

Dividends aside, the rally can also be attributed to bargain-hunting after the company on Thursday fell to a new record low of $95.80, having mirrored the bloodbath in the broader market as a result of economic uncertainties from the ongoing Middle East tensions.

Ares Management Corp. is a global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes.

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