logo
  

Brookfield Asset Management Q2 FFO Rises; Declares Dividend

Brookfield Asset Management Inc. (BAM, BAM.A.TO) reported Thursday that its second-quarter funds from operations or FFO grew to $1.60 billion from last year's $1.16 billion. FFO per share was $1.01, up from $0.73 last year.

Distributable earnings were $1.23 billion, up from $1.08 billion last year, supported mainly by a 49 percent increase in fee-related earnings.

Net income attributable to common shareholders was $816 million or $0.49 per share, compared to loss of $656 million or $0.43 per share a year ago.

Revenues grew to $18.29 billion from last year's $12.83 billion.

Further, the Board declared a quarterly dividend of $0.13 per share, payable on September 29 to shareholders of record as at the close of business on August 31

The Board also declared the regular monthly and quarterly dividends on its preferred shares.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) approved Boehringer Ingelheim's Cyltezo as the first interchangeable biosimilar to AbbVie's top-selling drug Humira or adalimumab. Cyltezo, originally approved in August 2017, is both biosimilar to, and interchangeable with Humira for Cyltezo's approved uses. The Food and Drug Administration may be planning to allow people to receive Covid-19 vaccine booster shot that is different from the initial dose, reports indicate. The agency is likely to make the announcement on mix and match approach on coronavirus booster vaccines on Wednesday. The move will be part of FDA's expected authorization of boosters for the Moderna and Johnson & Johnson vaccines. Drug major Johnson & Johnson on Tuesday raised again its forecast for fiscal 2021 earnings and sales, which are above market view, after reporting higher results in the third quarter. The company's quarterly adjusted earnings also beat market estimates. In pre-market activity on the NYSE, JNJ shares were gaining around 1.24 percent to trade at $162.10.
RELATED NEWS
Follow RTT