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As we speak’s information: Trending enterprise tales for February 7, 2024

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High story

Brookfield Asset Administration raises dividend, reviews $95-million revenue

Brookfield Asset Administration Ltd. raised its dividend because it reported a revenue of US$95 million in its newest quarter from its stake within the asset administration enterprise it owns with Brookfield Corp.

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The corporate, which owns a 25 per cent stake within the asset administration enterprise that’s 75 per cent owned by Brookfield Corp., says it can now pay a quarterly dividend of 38 cents U.S. per share, up from 32 cents U.S.

The elevated cost to shareholders got here because it says its revenue in U.S. {dollars} amounted to 24 cents U.S. per diluted share for the quarter ended Dec. 31.

The asset administration enterprise, Brookfield Asset Administration, was spun off from Brookfield Corp.

The total asset administration enterprise, which retains its leads to U.S. {dollars}, earned US$374 million in its fourth quarter, down from US$504 million a yr earlier.

Distributable earnings for the complete asset administration enterprise for the quarter amounted to US$586 million, up from U$569 million a yr earlier.

The Canadian Press

7:30 a.m.

Inventory markets earlier than the opening bell

Stock markets February 7, 2024

Shares had been blended Wednesday in Europe and Asia as Chinese language shares prolonged their good points after Beijing stepped up assist measures for wobbling markets.

France’s CAC 40 edged 0.1 per cent greater to 7,648.12. Germany’s DAX dipped 0.1 per cent to 17,010.92. Britain’s FTSE 100 misplaced 0.2 per cent to 7,666.67.

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The long run for the S&P 500 was almost unchanged whereas that for the Dow Jones industrial common edged 0.1 per cent greater.

The S&P/TSX composite index closed up 0.41 per cent on Tuesday.

— Bloomberg 

What to look at immediately

The Financial institution of Canada will launch its abstract of deliberations for its rate of interest choice on Jan. 24.

The Empire Membership of Canada and the Ontario Chamber of Commerce maintain an occasion in Toronto to launch their flagship 2024 Ontario Financial Report.

Merchandise commerce steadiness numbers for December shall be launched this morning. In the US, anticipate the products and companies commerce steadiness for December and client credit score.

Solar Life Monetary Inc., Brookfield Asset Administration Ltd., The Walt Disney Co., Alibaba Group Holding Ltd., Uber Inc. and Equifax Inc. are amongst corporations reporting earnings immediately.

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Further reporting by The Canadian Press, Related Press and Bloomberg

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