Och-Ziff pops after earnings and distribution

It's stock beaten down over an investigation of some of its funding deals in Africa, Och-Ziff Capital (OZM +2%) gets a nice boost from an earnings beat and declaration of a $0.23 dividend. The Street had expected a cut in the distribution.

Any discussion of the Africa situation is absent from the quarterly report.

Distributable earnings of $127.8M or $0.25 per share slipped from $136.9M and $0.29 one year ago. AUM, however, were strong, growing 22% Y/Y to $42.6B, with net inflows of $4.2B and appreciation of $3.4B.

Previously: Och-Ziff Capital Management beats by $0.09, beats on revenue

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