Goldman Sachs Group, Inc. (NYSE-GS) is an American multinational financial services company engaged in global investment banking, investment management, securities and other financial services, including asset management, mergers and acquisitions, prime brokerage advisory and underwriting. Goldman Sachs Group, Inc. also sponsors private equity funds, which are market makers and primary dealers in securities in the U.S. Goldman Sachs Group, Inc. also owns GS Bank USA. Goldman Sachs Group, Inc. was founded in 1869 and is headquartered in New York, USA. The company also has offices in international financial centers in more than 30 countries.
Goldman Sachs Group, Inc (NYSE-GS) announced on January 12 via its press release that it has launched a new stock dividend declaration. This launch relates to series of non-cumulative preferred stock (represented by depositary shares, each depositary share representing a 1/25th per share of preferred stock). Based on this, the dividend yield and the dividend payment itself can be expected to increase significantly for the year.
The company recently reported financial results for the third quarter of 2023. The company generated total sales of $11.82 billion with net income of $2.06 billion. Commenting on the quarter, Goldman Sachs Chairman and CEO David Solomon said: «We continue to make significant progress on our strategic priorities and believe the work we are doing now provides us with a much stronger platform for 2024. Continued recovery, both in capital markets and strategic activity, if conditions remain favorable. As a leader in M&A and underwriting advisory, the rebound in activity will be a boon for Goldman Sachs and will undoubtedly not be a drag.» Goldman Sachs Group, Inc (NYSE-GS) also pays regular quarterly dividends to its shareholders. The dividend yield is currently 2.91% per annum and the actual dividend amount has been approved by the company’s board of directors at $2.75 per share. According to analysts at brokerage firms and financial strategists at investment banks, the share price can be expected to rise in the short to medium term investment horizon, where the average target share price has been set at USD 404.56 per share.
