Brookfield Asset Management raises quarterly dividend, reports Q4 profit up

TORONTO – Brookfield Asset Management Inc. raised its dividend as it reported its fourth-quarter profit rose compared with a year earlier.

The alternative asset manager, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of 14 cents per share, up a penny from 13 cents.

The increased payment to shareholders came as Brookfield says its net income attributable to common shareholders rose to US$1.12 billion or 66 cents per diluted share for the quarter ended Dec. 31, up from US$643 million or 40 cents per diluted share a year earlier.

Revenue totalled US$21.79 billion, up from US$17.09 billion in the fourth quarter of 2020.

Funds from operations for the quarter totalled US$1.73 billion or US$1.04 per share, down from US$2.1 billon or US$1.34 per share a year earlier.

Brookfield says its distributable earnings were $1.3 billion, down from $1.63 billion a year earlier.

This report by The Canadian Press was first published Feb. 10, 2022.

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