Brookfield Asset Management Inc.'s (BAM) first-quarter non-IFRS funds from operations or FFO for Brookfield shareholders totaled $689 million or $1.03 per share, up from $515 million, or $0.77 per share last year, with the increase due mainly to the positive operating variances. Disposition gains included in FFO were relatively consistent, with $325 million recorded in the current quarter compared to $299 million in the 2012 quarter.
On the other hand, the company posted lower net income attributable to Brookfield shareholders of $360 million, or $0.51 per share in the quarter, compared with the prior-year quarter's $416 million, or $0.60 per share.
Revenues for the period were $4.95 billion, compared with $4.04 billion a year earlier. Analysts estimated revenues of $4.54 billion for the quarter.
Further, the board declared a quarterly dividend of $0.15 per share, payable on August 31, 2013, to shareholders of record as at the close of business on August 1, 2013. Also, the board declared all of the regular monthly and quarterly dividends on its preferred shares.
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