Brookfield Asset Management Inc. (BAM, BAM_A.TO), Friday reported an increase in third-quarter Funds from operations or FFO, reflecting strong operating performance and gains from several large realizations.
For the three-month period, the company reported FFO of $1.19 billion or $1.85 per share, compared with $223 million or $0.30 last year. Net income attributable was $1.49 billion or $1.23 per share, compared with $875 million or $0.48 per share last year.
The company said that disposition gains included in FFO totaled $851 million for the quarter, compared with losses of $77 million last year. Also in the FFO were included a $525 million gain on the settlement of a long dated interest rate contract, as well as gains on the sales of North American timberlands and private equity investments.
Total revenues and other gains were $5.17 billion, up from prior year's $4.66 billion.
Further, the Board declared a quarterly dividend of $0.20 per share, payable on February 28, 2014, to shareholders of record on February 1, 2014.
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