Brookfield Asset Management Q1 FFO Down - Quick Facts

(RTTNews) - Brookfield Asset Management Inc. (BAM, BAM_A.TO) said that its first-quarter 2014 funds from operations decreased to $492 million from the previous year's $689 million, with funds from operations per share declining to $0.72 from $1.03 last year.

Excluding realized disposition gains, FFO increased by 6% to $387 million over the 2013 quarter, reflecting increases in asset management fees and the impact of higher electricity prices on its renewable energy portfolios.

Net income attributable to shareholders for the quarter rose to $541 million from $360 million last year. Net income per share was $0.80, up from $0.51 in the year ago quarter.

Total revenues and other gains for the quarter dropped to $4.373 billion from last year's $4.951 billion.

The Board of Directors declared a quarterly dividend of $0.16 per share (representing $0.64 per annum, a 7% increase), payable on June 30, 2014 to shareholders of record as at the close of business on May 31, 2014.

The previous dividend paid on February 28, 2014 of $0.20 per share represented a four month period and therefore $0.60 per share on an annualized basis.