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.

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