TORONTO, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Partners Value Investments L.P. ((the "Partnership", TSX:PVF, TSX:PVF) announced today its financial results for the six months ended June 30, 2024. All amounts are stated in U.S. dollars.

The Partnership generated net income of $21.6 million for the quarter ended June 30, 2024, compared to a net loss of $8.1 million in the prior year quarter. The increase in income was primarily driven by the higher dividend income as well as foreign currency, tax and investment valuation gains. Income of $19.2 million was attributable to the Equity Limited Partners, and $2.4 million was attributable to Preferred Limited Partners.

As at June 30, 2024, the market prices of a Brookfield Corporation ((the "Corporation", TSX:BN) and Brookfield Asset Management Ltd. ((the "Manager", TSX:BAM) share were $41.54 and $38.05, respectively. As at August 16, 2024, the market prices of a BN and BAM share were $46.57 and $40.90, respectively.

Consolidated Statements of Operations

(Unaudited)For the periods ended June 30(Thousands, US dollars)

 

Three months ended

 

 

 

Six months ended

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Investment income

 

 

 

 

 

 

 

 

 

 

 

Dividends

$

23,429

 

 

$

22,680

 

 

$

47,456

 

 

$

42,287

 

Other investment income

 

4,160

 

 

 

2,219

 

 

 

8,195

 

 

 

5,435

 

 

 

27,589

 

 

 

24,899

 

 

 

55,651

 

 

 

47,722

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

(1,301

)

 

 

(457

)

 

 

(3,738

)

 

 

(1,041

)

Financing costs

 

(2,545

)

 

 

(2,344

)

 

 

(5,026

)

 

 

(4,644

)

Retractable preferred share dividends

 

(10,223

)

 

 

(10,372

)

 

 

(19,959

)

 

 

(20,688

)

 

 

13,520

 

 

 

11,726

 

 

 

26,928