Plus   Neg

Brookfield Asset Management Q3 FFO Rises - Quick Facts

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Uber Technologies Inc. (UBER) Wednesday reported a first-quarter loss that narrowed from last year, despite revenues dropping 16%, reflecting a gain from sale of self-driving unit. The ride-hail service's fourth-quarter loss was narrower than Wall Street estimates, but revenues fell short of expectations.... Social media giant Facebook's Workplace business tool has breached the seven million paid subscribers mark at a time when jobs have gone remote and is now the new normal amid the ongoing pandemic. The number of paid subscribers has grown 40 percent from last year. General Motors Co. (GM) Wednesday reported a profit for the first-quarter that surged from last year, driven by strong price and mix performance in North America, strong credit and residual value performance at GM Financial, as well as the industry recovery in China. Earnings per share topped analysts' expectations, while quarterly revenues missed their estimates.
Follow RTT