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Brookfield Asset Management's Q4'17 net income increases YOY

Brookfield Asset Management Inc. reported fourth-quarter 2017 net income attributable to shareholders of $1.05 billion, or $1.02 per share, up from $173 million, or 14 cents per share, in the prior-year quarter.

Those results excluded amounts attributable to non-controlling interests.

Revenues for the quarter climbed to $13.07 billion from $6.94 billion in the prior-year quarter.

Funds from operations, excluding amounts attributable to non-controlling interests, stood at $1.30 billion, an increase from $1.01 billion in the year-ago period.

For 2017, the company reported net income attributable to shareholders of $1.46 billion, or $1.34 per share, compared with $1.65 billion, or $1.55 per share, a year ago.

In addition, Brookfield announced a quarterly dividend of 15 cents per share, up from its previous payout of 14 cents per share. The dividend is payable March 29 to shareholders of record as at the close of business as of Feb. 28.

The company's latest flagship private equity fund, BCP IV, is more than 80% invested or committed. It will launch fundraising for the next fund in this series in the first half of 2018. The company's latest flagship infrastructure fund, BIF III, is approximately 50% invested or committed.