Brookfield Investments Corporation Announces Second Quarter Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/29/11 -- Brookfield Investments Corporation (TSX VENTURE: BRN.PR.A) reported net income of $2 million or $0.04 per common share for the three months ended June 30, 2011, compared to $25 million or $0.54 per share for the same period in the prior year. The current quarter includes $2 million of unrealized foreign exchange losses compared to $13 million of unrealized foreign exchange gains for the same period in 2010. Net income in the prior year also included a $10 million mark-to-market gain on the company's European commercial office properties which are held through its investment in Brookfield Europe L.P.
Dividend and interest income increased by $2 million to $10 million for the three months ended June 30, 2011. Dividend payments of $8 million on the company's retractable preferred shares, which are classified as interest expense, were consistent with the prior period. The company's investment in Brookfield Europe L.P. contributed $1 million of net income, whereas in the prior year it contributed $12 million, which included the $10 million unrealized gain noted above. Panelboard investments, held through Norbord Inc., contributed $nil for the second quarter of 2011, compared to a net income of $4 million for the same period in 2010.
The company's Board of Directors declared the regular quarterly dividend of C$0.29375 per share on its Senior Preferred Shares, Series A payable on September 30, 2011 to shareholders of record on September 20, 2011.
Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield Asset Management Inc. group. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc., a global asset manager focused on property, power and infrastructure assets.
Contacts:
Brookfield Investments Corporation
Derek E. Gorgi
Vice President and Chief Financial Officer
416-363-9491
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Datum: 29.08.2011 - 16:41 Uhr
Sprache: Deutsch
News-ID 1034850
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