Brookfield Asset Management Inc. (BAM: Quote, BAM_A.TO) reported a sharp decline in its fourth-quarter net income attributable to Brookfield shareholders to $588 million from $1.09 billion a year earlier, with net income per share dropping to $0.86 from previous year's $1.80. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.20 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly funds from operations or FFO, a non-IFRS measure, however, increased to $271 million from $161 million in the prior-year quarter.
Total revenues amounted to $4.12 billion compared with $3.67 billion in the earlier year period, while 3 analysts estimated revenues of $4.39 billion for the quarter.
Further, the board declared a quarterly dividend of $0.14 per share, payable on May 31, 2012, to shareholders of record as at the close of business on May 1, 2012. Also, the board declared all of the regular monthly and quarterly dividends on its preferred shares.
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by RTT Staff Writer
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