Brookfield Asset Management Q2 Profit Declines, But FFO Rises - Quick Facts

(RTTNews) - Brookfield Asset Management Inc. (BAM, BAM-A.TO) on Thursday reported a decline in profit for the second quarter from last year, while funds from operations or FFO increased.

The company's net income for the second quarter attributable to shareholders declined to $399 million or $0.36 per share from $680 million or $0.62 per share in the year-ago period.

Funds from operations or FFO for the quarter rose to $1.11 billion or $1.09 per share from $790 million or $0.77 per share in the year-ago quarter.

Revenues for the quarter grew to $16.92 billion from $13.28 billion in the same period last year.

The company's board also declared a quarterly dividend of $0.16 per share, representing US$0.64 per annum, payable on September 30, 2019 to shareholders of record as at the close of business on August 30, 2019. The Board also declared the regular monthly and quarterly dividends on its preferred shares.