BlackRock, with its impressive $9.4 trillion in assets under management (AUM), solidifies its position as the largest asset manager in the world, surpassing competitors Vanguard and Fidelity with their respective AUMs of $7.2 trillion and $3.8 trillion. This exceptional AUM base offers BlackRock a consistent and steady stream of income, making it an attractive option for income-focused investors.

Capitalizing on the growing popularity of passive investments, BlackRock's diverse range of investment choices has contributed significantly to its ongoing growth. The company offers over 1,300 exchange-traded fund (ETF) products covering equities, fixed-income, real estate, and other alternative investments. These products include thematic ETFs that cater to investors seeking exposure to areas such as artificial intelligence, cybersecurity, and medical technology.

The strategic acquisition of the iShares brand in 2009 proved to be a turning point for BlackRock. At that time, the company was the fourth-largest asset manager with $1.1 trillion in AUM. The purchase enabled BlackRock to establish a strong presence in the expanding ETF market, which has since become a key driver of its success.

In a challenging market environment, BlackRock has demonstrated its ability to perform well. Despite the decline in stock and bond values last year, the asset manager managed to attract more investments from Wall Street, thanks to its extensive range of investment options. This resilience has been crucial in maintaining and growing its AUM base.

For income-seeking investors, BlackRock's dividend yield of 3% makes it an appealing choice. What's more, the company has raised its dividend payout each year for the past 14 years, showcasing its commitment to delivering consistent returns to shareholders. Although its dividend payout ratio is on the higher side at 56%, it is expected to normalize as BlackRock's earnings recover from the challenging market conditions experienced in 2022.

BlackRock's financial performance has been encouraging, with a 5% growth in its bottom line through the first nine months of this year. The third quarter alone witnessed a notable 14% increase. As BlackRock continues to offer a broad range of investment products and benefit from its significant AUM base, it remains a solid choice for long-term dividend investors.

Income-focused investors seeking a reliable source of passive income may find BlackRock's long-established track record, diverse investment selection, and strong economic moat appealing. The company's ability to navigate challenging market conditions and consistently grow its dividend makes it an attractive proposition for investors looking for stable returns.

Disclaimer: The author of this article does not hold positions in any of the stocks mentioned. The views expressed are solely those of the author and should not be attributed to The Motley Fool.