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
Bobo's recalled one lot of Bobo's 4-pack Almond Butter Protein Bars for potentially containing undeclared peanuts, the U.S. Food and Drug Administration or FDA said in a statement. The recall was initiated after it was discovered that product containing peanuts was distributed in packaging that did not reveal the presence of peanuts on the ingredient deck. Birmingham, Michigan-based RFA Brands LLC, d/b/a myCharge is recalling about 67,000 units of myCharge powerbanks citing fire and burn risks, the U.S. Consumer Product Safety Commission said. The recall was initiated after myCharge received 30 reports of the powerbanks overheating, resulting in seven injuries as well as property damage to household flooring, walls and furniture. Comcast Corp. (CMCSA, CMCSK) on Thursday reported that profit for the third quarter doubled from last year, driven by 19 percent revenue growth amid significant growth across each of its businesses. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also declared a quarterly dividend.
RELATED NEWS
Follow RTT