Distribution Changes Will Likely Weigh on KKR & Co. (KKR) Stock; Piper Jaffray Cuts Price Target to $21

Go back to Distribution Changes Will Likely Weigh on KKR & Co. (KKR) Stock; Piper Jaffray Cuts Price Target to $21

KKR & Co. L.P. Announces Third Quarter 2015 Results

October 27, 2015 4:15 PM EDT

KKR adopts a $500 million unit repurchase program

KKR to change distribution policy to fixed $0.16 per common unit per quarter beginning with the fourth quarter of 2015

GAAP net income (loss) attributable to KKR & Co. L.P. was $(190.6) million and $456.2 million for the quarter and nine months ended September 30, 2015, respectively, down from $89.9 million and $478.2 million in the comparable periods of 2014.

Total distributable earnings was $349.1 million and $1,357.1 million for the quarter and nine months ended September 30, 2015, respectively, down from $504.8 million and $1,652.6 million in the comparable periods of 2014.

Distribution per common... More