(Toronto) Brookfield Asset Management raised its dividend on the sidelines of the publication of its fourth quarter results, which saw its profit climb compared to the same period a year earlier.
Posted at 1:18 p.m.
The asset manager will now pay a dividend of 14 US cents per share, down from 13 US cents per share previously paid.
Brookfield posted net income attributable to shareholders of $1.12 billion, or 66 cents per share, for the quarter ended Dec. 31. That compared with a profit of $643 million, or 40 cents per share, for the same period a year earlier.
Revenue totaled US$21.79 billion in the most recent quarter, compared to US$17.09 billion in the fourth quarter of 2020.
Funds from operations rose to US$1.73 billion, or US$1.04 per share, from US$2.1 billion, or US$1.34 per share, a year earlier.
Brookfield said its distributable income was US$1.3 billion, down from US$1.63 billion in the same period a year earlier.