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.
Companies in this story: (TSX:BAM.A)
The Canadian Press
