Legg Mason, Inc. (LM) reported first-quarter net income to company of $94.5 million or $0.84 per share, compared to $72.2 million or $0.61 per share, prior year. Adjusted income for the latest first quarter was $129.3 million, or $1.14 per share.
On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.83 for the quarter. Analysts' estimates typically exclude special items.
Operating revenues increased to $708.65 million from $693.88 million in the comparable quarter last year, while nine analysts expected revenue of $702.72 million for the quarter.
The Board of Directors has declared a quarterly cash dividend on the Company's common stock in the amount of $0.20 per share. The dividend is payable October 26, 2015 to shareholders of record at the close of business on October 8, 2015.
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