Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Canadian Press
The Canadian Press
Business

Brookfield Asset Management raises quarterly dividend, reports Q4 profit up

TORONTO — Brookfield Asset Management Inc. raised its dividend as it reported its fourth-quarter profit rose compared with a year earlier.

The alternative asset manager, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of 14 cents per share, up a penny from 13 cents.

The increased payment to shareholders came as Brookfield says its net income attributable to common shareholders rose to US$1.12 billion or 66 cents per diluted share for the quarter ended Dec. 31, up from US$643 million or 40 cents per diluted share a year earlier.

Revenue totalled US$21.79 billion, up from US$17.09 billion in the fourth quarter of 2020.

Funds from operations for the quarter totalled US$1.73 billion or US$1.04 per share, down from US$2.1 billon or US$1.34 per share a year earlier.

Brookfield says its distributable earnings were $1.3 billion, down from $1.63 billion a year earlier.

This report by The Canadian Press was first published Feb. 10, 2022.

Companies in this story: (TSX:BAM.A)

The Canadian Press

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.