Plus   Neg

Brookfield Asset Management Q4 FFO Down

Brookfield Asset Management Inc. (BAM, BAM_A.TO) reported that its funds from operations for the fourth-quarter declined to $826 million or $0.80 per share from $1.085 billion or $1.07 per share in the prior year.

Net income for the quarter grew to $1.756 billion or $0.91 per share from $941 million or $0.11 per share in the prior year.

The Board declared a quarterly dividend of US$0.16 per share (representing US$0.64 per annum), payable on December 31, 2019 to shareholders of record as at the close of business on November 29, 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way. American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter.
Follow RTT