11:57 AM EST, 02/13/2025 (MT Newswires) -- Brookfield Wealth Solutions ( BNT ) on Thursday said its net income climbed in the fourth quarter and boosted its quarterly dividend.

Brookfield reported net income of US$576 million, or US$0.08 per class A share, for the quarter ended Dec. 31, rising from US$453 million, or US$0.07 per class A share, in the year-prior quarter.

Total assets surged to US$140.46 billion from US$61.64 billion. Adjusted equity jumped to US$12.87 billion from US$8.97 billion. Distributable operating earnings climbed to US$427 million from US$258 million.

Brookfield attributed the strong results to its 2024 acquisition of American Equity Investment Life Holding, which doubled the size of the business.

"Our strong results for 2024 underscore our growth over the past year having doubled the size of the business in that time," chief executive Sachin Shah said. "Our scalable North American annuity platform, coupled with our leading investment capabilities, will serve as the foundation for our business as we expand internationally in 2025."

The board declared a 13% increase in the quarterly dividend to US$0.09 per class A share and class B share, representing US$0.36 per annum. The dividend is payable on March 31 to shareholders of record as of March 14.

The company's class A shares were last seen up $1.24 to $84.97 on the Toronto Stock Exchange.

Price: 84.91, Change: +1.18, Percent Change: +1.41