12:07 PM EST, 02/13/2025 (MT Newswires) -- Brookfield (BN.TO) at last look gained 1.7% after the company on Thursday raised its quarterly dividend after posting higher distributable earnings for the fourth quarter.

Brookfield declared a 13% increase in its quarterly dividend to $0.09 per share. The dividend is payable March 31 to shareholders of record on 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, rising from US$1.31 billion, or US$0.83, in the year-prior period.

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

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

The company's shares were last seen up $1.39 to $85.05 on the Toronto Stock Exchange.

Price: 85.04, Change: +1.38, Percent Change: +1.65