Brookfield Asset Management Reports Rise in FFO; Declares Dividend (BAM)
On Friday, asset management company Brookfield Asset Management Inc. (BAM) reported its second quarter financial result and declared its next dividend.
The Toronto, ON-based company reported second quarter funds from operations (FFO) of $464 million, or 68 cents per share, up from $159 million, or 20 cents per share, a year ago.
The company reported earnings of $230 million, or 31 cents per share, from $138 million, or 17 cents per share, last year.
Total revenue increased to $5.17 billion from $4.42 billion in the second quarter of 2012. Analysts expected to see revenue of $4.66 billion.
Additionally, the company reported that its board of directors has approved its next 15 cent dividend. The dividend will be payable on November 30th to shareholders of record on November 1st.
Brookfield Asset Management shares were up 64 cents, or 1.71%, during pre-market trading Friday. The stock has been mostly flat YTD.
The Bottom Line
Shares of Brookfield Asset Management Inc. (BAM) have a 1.61% yield based on Thursday’s closing price of $37.36.
Brookfield Asset Management Inc. (BAM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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