Brookfield Corp. BN-T raised its quarterly dividend as it reported its fourth-quarter profit rose compared with a year ago.
The investment firm, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of 7 US cents per share, up from 6 US cents per share.
The increased payment to shareholders came as Brookfield reported net income attributable to shareholders of US$743-million or 30 US cents per diluted share for the quarter ended Dec. 31, up from US$432 million or 17 US cents per diluted share a year earlier.
Revenue totalled US$20.16-billion, up from US$19.43-billion.
The company says its distributable earnings before realizations totalled 63 US cents per share for the quarter, the same as a year earlier, while total distributable earnings amounted to 67 US cents per share for the quarter, also matching a year earlier.
Brookfield said it had a record US$188-billion in capital available to deploy into new investments at the end of the quarter including US$77-billion in cash, financial assets and undrawn credit lines, as well as US$111-billion in uncalled private fund commitments.