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.
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.