08:35 AM EST, 02/13/2025 (MT Newswires) -- Brookfield (BN.TO) gained 1.2% at last look Thursday in NYSE pre-market trading as the company raised its quarterly dividend after posting higher distributable earnings for the fourth quarter of 2024.

Brookfield declared a 13% increase in its quarterly dividend to $0.09 per share, representing $0.36 per annum. The dividend is payable March 31 to shareholders of record as of March 14.

The dividend hike comes as Brookfield booked distributable earnings of US$1.61 billion, or US$1.01 per share, for the three months ended Dec. 31, 2024, rising from US$1.31 billion, or US$0.83 per share.

The company's attributable net income fell to US$432 million, or US$0.25 per diluted share, from US$699 million, or US$0.42 per diluted share.

Revenue dropped to US$19.43 billion from US$24.52 billion.

"Our asset management business had inflows of over US$135 billion, our wealth solutions business is now firmly established as a top-tier annuity writer in the U.S., and our operating businesses continue to generate high-quality and stable cash flows," said Nick Goodman, president of Brookfield.

"We expect the positive momentum in each of our businesses to continue this year," Goodman added.