Friday, Brookfield Properties Corp. (BPO,BPO.TO) said its fourth-quarter funds from operations or FFO increased to US$222 million from US$191 million in the year-ago period. Funds available to common shareholders for the quarter rose to US$217 million from US$190 million in the prior year period. Funds from operations per share for the quarter were US$0.43, down from US$0.49 in the previous year.
Net income for the quarter dipped to US$181 million or US$0.35 per share from US$458 million or US$1.16 per share in the earlier period.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of US$0.32 per share for the quarter.
Total revenue for the quarter increased to US$816 million from US$715 million in the comparable period. Two analysts estimated revenues of US$548.03 million for the quarter.
Brookfield Properties announced that full-year 2010 diluted funds from operations prior to lease termination income, special fees and gains is in the range of US$660 million - US$700 million or US$1.25 - US$1.33 per share with a mid-point of US$675 million or US$1.28 per share.
Fourteen analysts estimate earnings of US$1.18 per share for the year.
The board of directors of Brookfield Properties declared a quarterly common share dividend of $0.14 per share payable on March 31, 2010 to shareholders of record at the close of business on March 1, 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.