RTTNews | Aug 13, 2020 07:15AM EDT

07:15 Thursday, August 13, 2020 (RTTNews.com) - Brookfield Asset Management Inc. (BAM, BAM-A.TO) on Thursday reported a net loss for the second quarter attributable to shareholders of $656 million or $0.43 per share, compared to net income of $399 million or $0.24 per share in the year-ago quarter.

Funds from operations or FFO for the quarter were $1.16 billion or $0.73 per share from $1.11 billion or $0.73 per share in the prior-year quarter.

Bruce Flatt, CEO of Brookfield, stated, "We had our best fundraising period, ever; with $23 billion of capital added to our franchise, increasing total capital for deployment to $77 billion."

Revenues for the quarter declined to $12.83 billion from $16.92 billion in the same period last year.

The company's board also declared a quarterly dividend of $0.12 per share, representing US$0.48 per annum, payable on September 30, 2020 to shareholders of record as at the close of business on August 31, 2020. The Board also declared the regular monthly and quarterly dividends on its preferred shares.

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