Brookfield Corporation shares added 5% after the asset management firm's second quarter financial results impressed investors.
For 2Q, Brookfield’s distributable earnings before realizations were $1 billion for the quarter and $4.3 billion for the last 12 months, a 21% increase over the previous year.
Net income was $1.51 billion, up from $1.48 billion in the year-ago quarter.
“Financial performance was very strong during the second quarter, as our operations continued to generate stable and growing cash flows,” Brookfield president Nick Goodman commented.
“Momentum continues to grow across the business; so far this year we have announced more than $50 billion of acquisitions, sold approximately $15 billion of assets, and are on track to achieve a record of close to $150 billion of inflows in 2023.”
The company also announced that it would be paying a quarterly dividend of $0.07 per share on September 29, 2023, to shareholders of record as at the close of business.
Brookfield stock was trading at US$34.56 at the closing bell on Thursday.
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