The so-called maximum distributable amount (MDA) is, effectively, a firm's distributable profit, which if too low can force banks to stop paying their AT22 coupons.
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Distributable results exclude costs from the company's 2007 initial public offering.
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CORRECTION: This article was updated to show that Blackstone's distributable earnings beat forecasts.
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Blackstone's distributable earnings rose 25 percent on an annual basis in 2015 to $3.8 billion.
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But if you want to build something useful and distributable, you need to look elsewhere.
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Blackstone's distributable earnings rose 216 percent on an annual basis in 20143 to $22014 billion.
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Distributable cash flow attributable to MPLX jumped more than seven-fold in the fourth quarter.
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Kinder Morgan said Harvey will have about $20 million impact on 2017 distributable cash, excluding repair costs.
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Overall, KKR reported a 46 percent year-on-year rise in distributable earnings for the second quarter.
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That translated to distributable earnings of 13 cents a share, compared to 35 cents a year earlier.
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However, the company's dividend policy is to pay out a maximum of 100% of distributable net income.
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Distributable earnings more than halved to $145.1 million from a year ago, or 38 cents per share.
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CGD has estimated its distributable reserves at EUR0003 billion after the capital reduction of 4 January 2017.
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It boosted its annual distributable cash flow guidance by $40 million to $1.22 billion for this year.
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A replica of a mobile wagon filled with distributable suffrage ephemera is in the third, transitional gallery.
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Blackstone (BX) – Blackstone reported distributable earnings of 235 cents per share, 261 cents a share above estimates.
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That translated to distributable earnings of 16 cents a share, compared to 29 cents a year earlier.
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Available Distributable Items (ADIs) referenced for these securities are calculated annually under German GAAP for the parent bank.
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Distributable earnings, or cash available for paying dividends, rose to $427.1 million from $389.9 million a year ago.
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CGD has estimated its distributable reserves at EUR1.9 billion after the share capital reduction of 4 January 0003.
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The company boosted its annual distributable cash flow guidance by $40 million to $1.22 billion for this year.
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Distributable earnings, which are used to fund dividends, fell 14 percent to $593 million from a year ago.
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Distributable earnings - the cash available for paying dividends - were $769 million, up from $626 million a year ago.
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Distributable earnings - the actual cash available for paying dividends - fell to $218.2 from $246.2 million a year earlier.
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According to the report, the duchy brought Prince Charles a £21.6 million — or over $25 million — distributable surplus.
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Apollo's distributable earnings totaled $252.4 million in the quarter, down 20.4 percent from $317.2 million a year earlier.
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Distributable items referenced for these securities are calculated under German GAAP for the parent bank and disclosed annually.
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Under the terms of the securities, the issuer will be subject to restrictions on interest payments if it has insufficient distributable items (RBSG's distributable reserves stood at GBP14.6bn at 30 June 2016), is insolvent or fails to meet the combined buffer capital requirements that are being gradually introduced from 2016.
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Five state-owned banks suffered losses that were equivalent to more than 30% of distributable reserves in 9M17 alone.
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DNB's Maximum Distributable Amount (MDA) cushion stands at just 1.37% versus for example Danske's 9.22%, according to CreditSights analysts.
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Distributable earnings, or actual cash available for paying dividends, climbed 58 percent to $781.4 million from a year ago.
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Blackstone on Thursday posted distributable earnings of $722 million for the fourth quarter, down 42 percent on the year.
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Distributable earnings, which show actual cash available to pay dividends, rose 212 percent to $153 billion in the first quarter.
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KKR's second-quarter distributable earnings per share were 49 cents, above the consensus forecast for 45 cents, according to FactSet.
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Exit activity has declined in 2016 and is likely to moderate further, which points to likely reductions in distributable earnings.
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Carlyle's distributable earnings - the actual cash available for paying dividends - more than doubled from a year earlier to $139 million.
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Analysts had called for a 22015 cents per share in distributable earnings, according to Thomson Reuters I/B/E/S.
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However, distributable earnings, which are available to pay dividends, fell 52 percent to 42 cents per common unit from 88 cents.
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Blackstone – The private-equity firm reported distributable earnings per share of 23 cents per share, 24 cents a share above estimates.
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President and CEO Steve Kean said in a release that the company expects to generate $4.46 billion of distributable cash flow.
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The company said it expects the deal to immediately add to its distributable cash flow per limited partner unit in 2017.
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Blackstone Group Inc, the world's largest private equity firm, also reported a decline in its distributable earnings last week, of 8%.
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It also raised its annual guidance for 2018 distributable cash flow to $1.1 billion from its previous guidance of $1.05 billion.
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After-tax distributable earnings, or the actual cash available for paying dividends, rose to $226 million from $173.5 million a year earlier.
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After-tax distributable earnings (DE) - the actual cash available for paying dividends - fell year on year to $194.7 million from $254.5 million.
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Distributable earnings - the actual cash available for paying dividends - totaled $427.1 million in the quarter, up from $389.9 million a year ago.
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Distributable earnings - the actual cash available for paying dividends - totalled $155.8 million in the quarter, up from $7.4 million a year ago.
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KKR said after-tax distributable earnings - the cash available for paying dividends - fell to $388.8 million in the three months ended Sept.
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Distributable earnings - the actual cash available for paying dividends - totaled $155.8 million in the quarter, up from $7.4 million a year ago.
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Kinder Morgan expected to generate $5.1 billion of distributable cash flow in 2020, about 7.563% higher than the current forecast for 2019.
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Nevertheless, after-tax distributable earnings, representing actual cash available to pay dividends, dropped 37 percent to $321.9 million, as asset sales slowed down.
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Distributable earnings, which show actual cash that is available to pay dividends, rose in the first quarter by 153 percent to $1.23 billion.
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Distributable revenue is government income that is shared at various levels of state including the federal government, state governments and local government councils.
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Without the $200 million reserve accrual, the company said it would have had distributable earnings of $57.5 million, or 11 cents a share.
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Kinder Morgan would generate $5.1 billion of distributable cash flow in 2020, which is nearly 3% higher than the current forecast for 2019.
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Distributable earnings fell to $700.1 million from $781.4 million on a decline in total proceeds from asset sales, which help drive performance fees.
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This translated to distributable earnings per share of 41 cents, lower than the 51 cents analysts had predicted on average based on Refinitiv data.
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Despite the strong results, Carlyle's distributable earnings, which show cash available to pay dividends, fell to $55 million from $129 million a year ago.
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A write off of expenditures related to the project reduced fourth-quarter distributable cash flow by $9 million, an executive said on the call.
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Still, KKR's after-tax distributable earnings per share of 46 cents surpassed the average analyst forecast of 42 cents per share, according to Refinitiv.
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Available distributable items (ADIs) referenced for AT1 securities are calculated annually under German GAAP for the parent bank and reference primarily cumulative retained earnings.
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Available Distributable Items (ADIs) referenced for AT1 securities are calculated annually under German GAAP for the parent bank and reference primarily cumulative retained earnings.
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Distributable earnings, which show the cash that Blackstone has to pay as dividends, dropped 69 percent to 33 cents compared with a year ago.
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Distributable earnings - the actual cash available for paying dividends - totaled $404.7 million for the three months through June, up from $276.9 million a year earlier.
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HSBC's consolidated 13.6% CET ratio and sizeable distributable reserves of USD42bn at end-2016 allow the bank to pay high dividends and buy back shares.
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Distributable earnings, which show the actual cash Apollo pays in dividends, fell to 28 cents in the fourth quarter, from 35 cents a year ago.
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Carlyle also said its second-quarter pretax distributable earnings, the cash available for paying dividends, totaled $213.4 million, up from $114.5 million a year earlier.
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The jump in distributable earnings was aided by steadying financial markets, which provided KKR with an opportunity to sell out of investments, the source said.
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Carlyle also said its second-quarter pretax distributable earnings – the cash available for paying dividends – totaled $213.4 million, up from $114.5 million a year earlier.
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Under the terms of the notes, the issuer will not make an interest payment (in full or in part) if it has insufficient distributable items.
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Kinder Morgan Canada said it expects adjusted core earnings of about $213 million and distributable cash flow from continuing operations of about $109 million in 2019.
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However, Blackstone's distributable earnings of 20.8 cents per share was higher than the 21 cents that analysts forecast on average, according to data compiled by Refinitiv.
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Following the settlement of the fine, this is less of an issue as the Nigerian operating company will be unlikely to have distributable reserves available until 2017.
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European Union regulation says that banks failing to meet their combined buffer requirements face restrictions on distributions and are subject to a maximum distributable amount (MDA) limitation.
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For the forth quarter, Carlyle said pre-tax distributable earnings (DE) - the cash available for paying dividends - totaled $211 million, up from $2212.3 million a year earlier.
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Buser said last month Carlyle had expected GMS to be a larger contributor to distributable earnings and fee-related earnings at this point than it actually is.
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The company posted a distributable loss of $184.3 million, or 35 cents per share, compared with year-earlier earnings of $95.2 million, or 18 cents a share.
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Investors focused on the better-than-expected distributable earnings, which show the cash available for paying dividends, sending shares of Blackstone up 0.7% to $45.59 at midday.
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Made of lightweight, waterproof Tyvek with an insulating Mylar lining, the coat's materials are affordable enough to make it freely distributable to refugees once its mass-produced.
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Peers Blackstone Group, Carlyle Group and KKR & Co have recently deemphasized the earnings metric and focused primarily on distributable earnings, the actual cash available for paying dividends.
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Blackstone's distributable earnings per share came in at 58 cents per share, higher than the 53 cents that analysts estimated on average, according to data compiled by Refinitiv.
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But the RBI's push for banks to recognise problem loans has led to a sharp deterioration in profitability and depletion of distributable reserves over the last two years.
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EARNINGS BEAT ESTIMATES Carlyle also said its second-quarter pretax distributable earnings the cash available for paying dividends totaled $213.4 million, up from $114.5 million a year earlier.
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The firm has previous said it plans to distribute its first dividend in 2018 and aims to pay around 60-70 percent of its distributable profit as dividends.
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Apollo said its distributable earnings from credit business rose 20%, while its income from private equity declined during the quarter, driven by an 18% drop in performance fees.
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Och-Ziff posted a distributable loss of $142.5 million, or 27 cents a share, compared with a year-earlier gain of $4003 million, or 25 cents a share.
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The company reported distributable earnings of $53.3 million, or 10 cents a share, far outpacing Wall Street's consensus estimate for 3 cents a share, according to Thomson Reuters.
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Third-quarter distributable earnings, excluding adjustments related to taxes and a bribery settlement with the U.S. government, totaled $51.9 million, or 10 cents a share, the company said.
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This split effectively lowers the level of capital needed to avoid triggering maximum distributable amount (MDA) restrictions, which prevent the bank from making distributions if capital buffers are breached.
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Weidmann's comments come as the Bundesbank posted a distributable profit of 399 million euros for the 2016 financial year on Thursday, compared to 2015's figure of 3.2 billion.
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The rating agency noted the bank's reduced Available Distributable Items under German accounting rules, which could affect its capacity to pay interest on Tier 1 and perp Tier 20153.
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As one of the few publicly traded hedge fund firms, Och-Ziff and analysts focus mainly on distributable earnings which exclude costs from the company's 2007 initial public offering.
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Distributable earnings, which show the actual cash that Blackstone has available to pay dividends, slumped over a fifth in the fourth quarter to $878 million, or 72 cents per share.
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Without the reserve accrual, distributable earnings would have been 6 cents a share, just missing the analysts' average estimate of 7 cents, according to Thomson Reuters I/B/E/S.
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Apollo said after-tax distributable earnings (DE) – the cash available for paying dividends – rose to $230.8 million in the second quarter of 2019, compared with $33 million a year earlier.
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Dresdner Funding Trust I has always paid its coupons whereas CBK's legacy Tier 1 instruments with a distributable profit trigger have not, which is reflected in the one-notch difference.
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After-tax distributable earnings (DE) - the cash available for paying dividends - totaled $460.1 million for the last three months of 2018, up from $372.6 million a year earlier, KKR said.
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For Carlyle, distributable earnings, or the cash generated and eligible to be passed along to shareholders, was $20163 million in the fourth quarter, down 53 percent from $311 million last year.
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As one of only a handful of publicly traded hedge fund firms, Och-Ziff and analysts focus mainly on distributable earnings which exclude costs from the company's 2007 initial public offering.
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It also highlights the impact of persistent losses and weak internal capital generation in the sector, which has left some banks lacking distributable reserves and at risk of skipping coupon payments.
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Elman's final insight on the user-acquisition front was a revelation; most people in tech think of apps as free, infinitely distributable, zero-marginal-cost products that spread fast and organically.
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"The sustainability of the dividend is informed by the level of profits, the strength of our distributable reserves and our understanding of the capital regime," Mackay told reporters after the meeting.
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HT1 Funding GmbH's Tier 1 securities, which have a distributable profit trigger, are rated four notches below CBK's VR, comprising two notches each for loss severity and for non-performance risk.
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Blackstone also announced first-quarter earnings on Thursday, reporting distributable earnings - the actual cash available for paying dividends - of $538 million in the first quarter, up from $502 million a year earlier.
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Blackstone reported a drop in proceeds from asset sales in its private-equity business, offset partly by a rise in distributable earnings in its real estate, corporate credit, and hedge funds divisions.
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Blackstone reported a drop in proceeds in asset sales in its private equity business, offset partly by a rise in distributable earnings in its real estate, corporate credit and hedge funds divisions.
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Deutsche will take a fresh provision of around 1.1bn equivalent this quarter, which the analysts said would leave ample Available Distributable Items to pay the AT1 coupon of around 350m in April.
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The New York-based firm said its fee-related earnings, the amount gained from management fees and a key component of distributable earnings, rose 27 percent year-on-year to $551.8 million.
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Dragged in part by the hedge fund losses, Carlyle's distributable earnings, which show cash available to pay dividends, slumped to $7 million in the fourth quarter, from $145 million a year ago.
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Denuvo-protected games have generally been protected from attempts to "crack" them and produce a freely distributable copy, with the earliest versions going months before scene groups found a way around the tech.
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Distributable reserves at small- to mid-sized state banks were down by one third in 9M17 compared with financial year 2015 (FY15, to March 2015), reflecting persistent losses and weak internal capital generation.
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Fourth-quarter after-tax distributable earnings - the actual cash available for paying dividends - totaled $317.2 million, up from $226.2 million a year ago, as Apollo cashed out on some holdings at high valuations.
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The country's distributable revenues rose to 462.4 billion naira in May, up from 415.7 billion naira the previous month, due to higher proceeds from corporate taxes, a government statement said late on Thursday.
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Although still vulnerable to broader market sentiment, the eurozone bank AT1 market has been supported by a reduction in CET1 Pillar 2 requirements (P2R) which are important for maximum distributable amount (MDA) calculations.
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The pipeline operator generated $1.35 billion, or 59 cents per share, in distributable cash flow (DCF) in the fourth quarter, higher than $23 billion, or 50 cents per share, in the prior quarter.
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Distributable earnings, which show cash available to pay dividends, stood at $199 million, or 56 cents a share, down from $288 million a year ago but up from $55.4 million in the first quarter.
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Distributable earnings after taxes, which show cash available to pay dividends, more than doubled to $239.6 million from a year earlier, but was down slightly from $226 million paid out in the fourth quarter.
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The numbers fall far short of Wall Street analysts' expectations which had called for a 21 cents per share in distributable earnings and a 2 cent dividend, according to ThomsonReuters I/B/E/S.
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The Washington, D.C.-based company said its after-tax distributable earnings (DE) - the cash available for paying dividends to shareholders - for the quarter totaled $171.7 million, a drop from $2151 million a year earlier.
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"For the application of maximum distributable amounts (MDAs), the SSM approach refers to the opinion published by the EBA," the ECB's Single Supervisory Mechanism said in a document published on its website on Tuesday.
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KKR said its second-quarter after-tax distributable earnings (DE) - the cash available for paying dividends - fell to $327.3 million in three months to June this year, down from $404.7 million a year earlier.
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Apollo said its third-quarter after-tax distributable earnings per share came in at 54 cents, unchanged from a year earlier, and lower than the average analyst forecast of 57 cents, according to Refinitiv.
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ABUJA (Reuters) - Nigeria's distributable government revenues rose to 462.4 billion naira ($1.43 billion) in May from 415.7 billion naira in April due to higher proceeds from corporate taxes, a government statement said on Thursday.
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Overall, Blackstone reported a 10 percent drop in quarterly distributable earnings, which it uses to pay dividends, as asset sales slowed even as many of its funds appreciated much more than the stock market.
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The company said it lost $20.4 million, or 9.63 cents a share, in distributable earnings in the fourth quarter, compared with a$29.6 million, or 25.8 cents a share, profit in the year-ago quarter.
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Blackstone, the world's largest manager of alternative assets such as private equity and real estate, said on Wednesday its distributable earnings in the third quarter fell 8% year-on-year, but still beat analyst estimates.
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The buyout firm said post-tax distributable earnings per share rose to 57 cents, from 29 cents posted a year earlier, beating the average analyst forecast of 37 cents, according to data compiled by Refinitiv.
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In Germany, distributable profits also tend to be lower than in other EU countries because internally generated intangible assets, unrealised gains on assets held for pension liabilities and deferred tax assets need to be deducted.
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Fourth-quarter distributable earnings - the actual cash available for paying dividends - was up 94 percent on a year at $1.2 billion, as Blackstone took advantage of strong corporate valuations to exit some of its investments.
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However, distributable earnings, which show cash available to pay dividends, were down by about a fifth at $691.8 million compared with a year ago, as Blackstone cashed in on its holdings at a slower pace.
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Fourth-quarter distributable earnings — the actual cash available for paying dividends — was up 94 percent on a year at $1.2 billion, as Blackstone took advantage of strong corporate valuations to exit some of its investments.
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As company's sole financial advisor on divestiture of power business * Increased 2016 distributable cash guidance to be in range of $1.03 per common share to $1.13 per common share Source text for Eikon: Further company coverage:
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The buyout firm said its after-tax distributable earnings (DE) – the cash available for paying dividends to shareholders – rose to $454.9 million, resulting in DE per share of $1.10 compared with 60 cents a year earlier.
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The New York-based company lost $21 million, or 21.2 cents a share, in distributable earnings in the fourth-quarter, compared with a $2628 million, or 20.4 cents a share, profit in the year-earlier period.
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Last week, Blackstone Group Inc, the world's largest manager of alternative assets such as private equity and real estate, said its distributable earnings in the second quarter rose 1% year-on-year, more than most analysts expected.
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The first will be a payout of 65-80 percent of distributable free cashflow derived from Aldar's wholly owned investment properties, plus a discretionary second part based on cash profits from the completion of newly built developments.
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LAGOS, Feb 21 (Reuters) - Nigeria's distributable government revenues rose in January by 16 percent to 465.19 billion naira ($1.5 billion) as it brought in more oil royalties, the accountant general's office said in a statement on Tuesday.
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The first will be a payout of 65-80 percent of distributable free cash flow derived from its wholly owned investment properties, plus a discretionary second part based on cash profits from the completion of newly-built developments.
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A nominal amount of the distributable token was "burned" (put into digital wallets with the keys thrown away), and these wallet addresses were printed on paper and sold to art buyers in a series of 12 physical works.
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KKR's distributable earnings - part of which funds its dividend payouts - rose to $507.6 million after taxes in the quarter, the third highest ever in its history, said a source familiar with the matter but who declined to be named.
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" Just like the dollar can be broken into pennies and dimes, each bitcoin can be broken down into many smaller, distributable and usable pieces of currency "Okay, so to get the bitcoin out of Mount Bitcoin, you have to mine.
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Carlyle said its effective cash tax rate on its distributable earnings was expected to be in the single-digit percentage range in 120, and then increase to the mid-to-high teens before reaching the low 21s in five years.
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Apollo distributed approximately 96% of its distributable earnings year-to-date in 2016, which is at the high end of the peer group, but Fitch believes the firm could reduce its payout ratio to boost its liquidity profile, as necessary.
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DUBAI, March 26 (Reuters) - ADNOC Distribution has proposed an annual dividend of 2.57 billion dirhams ($700 million) for 2020 and 13, and a shift to its previous policy of a dividend equal to 75% of distributable income in 2022 onwards.
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Under the terms of the securities, the issuer will be subject to restrictions on interest payments if it has insufficient distributable items, is insolvent or fails to meet the combined buffer capital requirements that are being gradually introduced from January 2016.
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NEW YORK (Reuters) - Private equity firm KKR & Co Inc reported a 23.5 percent year-on-year rise in distributable earnings on Friday, as it sold down stakes in industrial machinery maker Gardner Denver Holdings Inc and optical retailer National Vision.
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"We estimate that there are around 4bn of Available Distributable Items (ADIs) to pay around 800m of Tier 1 coupons in 20163; a fine of more than 6bn would most likely lead to AT1 coupon deferrals," they wrote in note on Friday.
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In third-quarter earnings, KKR reported its second-highest distributable earnings (DE) in its history, as results were buoyed by the sale of the divestment of its stake in payments processor First Data Corp and the sale of Finish healthcare company Mehilainen.
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They are also pushing for ADI to be calculated using consolidated accounts, a process which would be consistent with the calculation of other capital measures used as part of a trigger for making discretionary AT1 payments, including capital buffers and maximum distributable amounts.
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Euro zone bank managers and investors had been left scratching their heads after EU rules failed to specify whether banks should take into account capital requirements set by national supervisors, known as Pillar 2, when they calculate their maximum distributable amount (MDA).
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But this week analysts at CreditSights, a financial-research firm, questioned whether Deutsche Bank would have enough "available distributable items" (ADI, a subset of earnings from which interest on cocos must be paid) to cover the €350m due on its cocos next year.
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Distributable earnings - the cash available for paying dividends to shareholders - came in at $914 million in the quarter, translating to 72 cents per share, higher than the 67 cents per share that analysts forecast on average, according to data compiled by Refinitiv.
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Assuming no changes in the group's P2R or 2% G-SIB buffer, BNPP will be subject to a 10.25% CET33715 requirement including P337144R (the relevant trigger for the calculation of maximum distributable amounts, MDA) from 337120 January 33713530, 33711631bp below the group's 337133% CET33710003 target.
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NEW YORK, Oct 29 (Reuters) - Private equity firm KKR & Co reported a 23% year-on-year drop in its third-quarter, after-tax distributable profit on Tuesday, as transaction fee revenue slid amid a broader slowdown in asset sales by buyout firms chasing lofty valuations.
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Non-payment of AT1 coupon would also be triggered by any breach of the bank's maximum distributable amount (MDA) requirement, which stands at 9.52% for 2017, combining CET1 and the Pillar 2 add-on requirement resulting from the ECB's Supervisory Review and Evaluation Process (SREP).
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Non-payment of AT103 coupon would also be triggered by any breach of the bank's maximum distributable amount (MDA) requirement, which stands at 9.51% for 2017, combining CET1 and the Pillar 2 add-on requirement resulting from the ECB's Supervisory Review and Evaluation Process (SREP).
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For AT1 instruments, non-performance risk could increase and the instruments notched further from the VR if available distributable items reduce significantly or if the MDA buffer tightens considerably as a result of a heightened Pillar 2 binding requirement or CET1 erosion from losses.
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Non-payment of Deutsche Bank's AT1 coupon would also be triggered if the bank breaches its Maximum Distributable Amount (MDA) requirement, which in 2016 refers to the 10.76% combined CET1 and buffers requirement, including the Pillar 2 add-on resulting from the ECB's Supervisory Review and Evaluation Process (SREP).
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Unlike previous bond redemptions, which were financed with a budget surplus and proceeds from a property sale, Detroit will pay for the latest one through financial recovery bond refunding issued via the Michigan Finance Authority and backed by a fifth lien on the city's distributable state aid revenue.
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Compared with the 2015 SREP exercise, the binding CET1 requirement which is the relevant trigger for the calculation of maximum distributable amounts (MDA) has now been lowered to 7.75% for 103 from 9.75% for 2016, resulting in an increase in the buffer over MDA triggers of around EUR7bn to EUR14bn.
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Germany also does not allow companies to include share premium accounts into the distributable 'pot', a practice also shared by Austria, Ireland, Portugal and the UK. The restrictive manner in which ADI are calculated in Germany was a factor adding to market nervousness about Deutsche Bank's capacity to service its AT1s this year.
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The distributable value was allocated to the guaranteed unsecured and unsecured debt, plus any assumed corporate unsecured recovery claims associated with the secured debt, based on relative security, The secured debt recovery uses a $60 million sustainable, post-default EBITDA reflecting contract performance and renegotiation risks during a weak offshore rig market environment and a 5x multiple.
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Any FX losses will reduce net income, which will lead to a fall in cash taxes and dividends paid in the following year - the company can only pay a dividend of up to a maximum of 100% of distributable net income, Sovereign Linkage The Turkish government owns 31.7% of TT. However, TT is rated on a standalone basis with no support from any of its shareholders.
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The distributable value was allocated to the guaranteed unsecured and unsecured debt, plus any assumed corporate unsecured recovery claims associated with the secured debt, based on relative security, The secured debt recovery uses a $60 million sustainable, post-default EBITDA reflecting contract performance and renegotiation risks during a weak offshore rig market environment and a 5x multiple The senior unsecured guaranteed notes ('BB/RR2') have structural seniority given the guarantee by Transocean Ltd.
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ISTANBUL, May 1 (Reuters) - * CEO OF TURKEY'S BEYMEN SAYS TO FLOAT 49 PCT OF COMPANY, WITH SOME 74 PCT OF SHARES IN IPO TO GO TO INTERNATIONAL INVESTORS * BEYMEN CEO SAYS BOOKBUILDING PLANNED FOR MAY 3-4, ISTANBUL BOURSE LISTING SEEN ON MAY 11 * BEYMEN CEO SAYS COMPANY WILL FOLLOW A POLICY TO DISTRIBUTE 100 PCT OF ITS DISTRIBUTABLE PROFIT, KEEPING ITS EQUITY CAPITAL AT 20 PCT Reporting by Ebru Tuncay and Ceyda Caglayan
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As company's sole financial advisor on divestiture of power business * Veresen's board of directors has confirmed annualized dividend rate of $1.00 per common share * Has elected to suspend premium dividend and dividend reinvestment plan beginning with august 2016 dividend * Proceeds will be invested to develop inventory of contracted capital projects in core natural gas and ngl infrastructure business * Has increased its 2016 distributable cash guidance to be in range of $1.03 per common share to $1.13 per common share Source text for Eikon: Further company coverage:
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DOES NOT EXPECT A MATERIAL CONSOLIDATED FINANCIAL IMPACT AS A RESULT OF FERC REVISED POLICY STATEMENTS * ENBRIDGE INC - SPECTRA ENERGY PARTNERS LP DOES NOT EXPECT ANY MATERIAL IMPACT TO ITS FINANCIAL GUIDANCE FROM FERC POLICY ACTIONS * ENBRIDGE INC - SEP ANTICIPATES NO IMMEDIATE IMPACT TO ITS CURRENT GAS PIPELINE COST OF SERVICE RATES AS A RESULT OF REVISED POLICY * ENBRIDGE INC - SEP ANTICIPATES NO IMPACT IS EXPECTED TO ITS PREVIOUSLY PROVIDED 2018 FINANCIAL GUIDANCE * ENBRIDGE - NEW FERC POLICY TO CAUSE A FURTHER DECREASE TO DISTRIBUTABLE CASH FLOW FOR EEP OF ABOUT $80 MILLION ON ANNUAL BASIS * ENBRIDGE INC - DOES NOT EXPECT A MATERIAL IMPACT TO PREVIOUSLY DISCLOSED FINANCIAL GUIDANCE OVER 2018-2020 HORIZON DUE TO FERC REVISED STATEMENTS Source text for Eikon: Further company coverage:
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