TORONTO - Brookfield Asset Management Ltd. says it earned fourth-quarter net income of US$186 million from its stake in the asset management business it owns with Brookfield Corp.
The company says it will pay a quarterly dividend of 43.75 cents US per share, up from 38 cents US per share.
Brookfield Asset Management Ltd., which keeps its books in U.S. dollars, says its fourth-quarter profit amounted 42 cents US per diluted share for the quarter ended Dec. 31, up from US$95 million or 24 cents US per diluted share a year earlier.
Brookfield Corp. spun off the asset management business in 2022, but maintained a majority stake in the operations, while Brookfield Asset Management Ltd. held the rest of the company.
The full asset management business, which reports its results in U.S. dollars, reported a fourth-quarter profit attributable to the business of US$688 million, up from US$374 million a year earlier.
Since the end of the quarter, Brookfield Corp. has swapped its 73 per cent in the asset management business for a 73 per cent stake in Brookfield Asset Management Ltd. which now owns the full asset management business.
This report by ºÚÁϳԹÏÍø was first published Feb. 12, 2025.
Companies in this story: (TSX:BAM, TSX:BN)
