Brookfield Asset Management Q1 FFO Down, Revenues Rise; Declares Dividend

(RTTNews) - Brookfield Asset Management Inc. (BAM, BAM-A.TO), an alternative asset manager, reported Thursday that its first-quarter funds from operations or FFO declined to $674 million or $0.65 per share from $703 million or $0.69 per share a year ago.

Net income was $518 million, down from $636 million last year. The company recorded a net loss attributable to shareholders of $37 million or $0.08 per share, compared to prior year's profit of $257 million or $0.23 per share.

Annualized fees increased to $1.2 billion, up 24% from the prior year,

Revenues increased to $6 billion from prior year's $5.22 billion.

Further, the company said its Board declared a quarterly dividend of $0.14 per share, representing $0.56 per annum, payable on June 30 to shareholders of record as at the close of business on May 31.

The Board also declared all of the regular monthly and quarterly dividends on its preferred shares.