The company’s operating earnings were $335m, or $1.45 per diluted share, compared to $344m, or $1.33 per diluted share, previous fiscal.
Showing the strong financial capacities, the firm returned $364m to shareholders through share repurchases and dividends, which represented nearly 110% of first quarter of 2012 operating earnings.
Ameriprise Financial chairman and chief executive officer Jim Cracchiolo said that the firm had a solid quarter, generating good earnings and fee-based business growth, which helped to offset the negative interest rate environment.
"Our results reflect the benefits of our diversified business model and the strength of our balance sheet," Cracchiolo added.
"The strong free cash we’re generating gives us the platform to maintain growth investments while continuing to repurchase our shares and increase our dividend significantly. In fact, over the past year we’ve nearly doubled our quarterly dividend, demonstrating our ability to both deliver solid results and a strong return to shareholders. In this fragile economic environment, our business remains strong and diversified."
For the latest quarter period, its advice & wealth management’s first quarter 2012 pretax operating earnings declined by 5% to $94m when compared with earnings a year ago.
Asset Management pretax operating earnings declined by $5m from a year ago to $131m, which reflects a year-over-year decline in assets under management, partially offset by continued expense controls.
