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The Globe and Mail

Brookfield profit falls nearly 50%; hikes dividend

Brookfield Asset Management Inc. CEO Bruce Flatt.

MARK BLINCH/MARK BLINCH/REUTERS

Canadian property, power and infrastructure investor Brookfield Asset Management Inc.'s fourth-quarter profit halved hurt in part by lower revenue from its renewable power unit.

The company earned $960-million, or 86 cents a share, down from $2.07-billion, or $1.80 a share, a year ago.

Revenue rose about 12 per cent to $4.12-billion. Quarterly revenue from its renewable power unit fell 22 per cent.

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Brookfield, however, raised its quarterly dividend by 8 per cent to 14 cents per share.

Shares of the company closed at $31.53 on Thursday on the Toronto Stock Exchange.

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