Banking, finance, and taxes
Goldman Beats Earnings, Raises Dividend
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Annualized return on equity was 8.6% for the third quarter, and up 8.8% year-to-date. Goldman Sachs said that its core excess liquidity was $170 billion, its Tier 1 capital ratio under Basel 1 was 15.0%, and its Tier 1 common ratio under Basel 1 was 13.1%.
Book value per common share rose to $140.58 and the bank’s tangible book value per common share rose to $129.69, coming to gains of about 3% each. The investment banking giant also raised its dividend to $0.50 per share per quarter from $0.46 per share per quarter. Its new dividend yield is 1.6%.
Goldman Sachs shares closed at $124.50 on Monday and the 52-week trading range is $86.90 to $128.72. Its market cap is about $61.8 billion. What is interesting is that the initial reaction is slightly lower by about 0.7%.
JON C. OGG
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