Brookfield Asset Management Inc. (BAM) gained in the current market after announcing its fiscal 2021 results. BAM values at $62.17, gaining more than 9.27% compared to yesterday’s closing price. The stock closed at $56.90 at the end of the last trading session. The stock volume traded in the last trading session was around 1.83 million shares. The current market cap of the company is around 88 billion.
BAM: Fiscal 2021 Key Financials
- Brookfield Asset Management Inc. (BAM) announced $75,731 million in fiscal 2021. In fiscal 2020, the revenue was $62,752 million.
- Brookfield Asset Management Inc. (BAM) net income was around $12,388 million in fiscal 2021. The company’s net income in fiscal 2020 was $707 million.
- Brookfield Asset Management Inc. (BAM) diluted earnings per share were around $2.39 in fiscal 2021. The diluted loss per share in fiscal 2020 was $0.12.
BAM CFO’s remarks on the results of fiscal 2021
Brookfield’s CFO, Nick Goodman, stated, “We delivered our best results to date.” In a record year, we earned $12.4 billion net and $6.3 billion distributable. Profits from asset sales and carried interest from $71 billion of capital inflows drove this. Our businesses’ size and quality, along with their cash flow generation and incorporated inflation security, will give some substantial boost through 2022.
Update on the BAM Dividend
The Board increased the quarterly dividend by 8% to $0.14 per share (or $0.56 per annum), payable on March 31, 2022, to shareholders of record on February 28, 2022. The Board also confirmed monthly and quarterly preferred dividends.
Conclusion
Brookfield Asset Management Inc. (BAM) has released a set of data that are both outstanding and encouraging. They are sure that their current momentum will carry them through the rest of the new calendar year. The company should maintain consistency in its financial reporting in order to have a stronger impact on the stock price.
