GlobeNewsWire
01 Jun 2026, 21:40 UTC · 1h ago
Brookfield Announces Reset Dividend Rate on Its Series 24 Preference Shares
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GlobeNewsWire
01 Jun 2026, 21:40 UTC · 1h ago
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Brookfield Corporation has set the reset dividend rate for its Series 24 Preference Shares at an annual rate of 5.432% for the five-year period starting July 1, 2026. — This provides certainty on the cost of capital for this specific instrument, though the impact is limited to a small subset of preferred shareholders.
+0.10Holders of Series 24 Shares may convert their holdings into Series 25 Shares, which offer a floating rate of 2.30% over the annual yield on three-month Government of Canada treasury bills. — This provides an arbitrage or hedging opportunity for investors to move from a fixed to a floating rate based on their interest rate outlook.
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The article is a routine administrative announcement regarding the reset of dividend rates for preference shares.
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