Brookfield Asst Stock Price, News & Analysis

BROOKFIELD, NEWS, June 28, 2021 - Brookfield Asset Management has established Brookfield Reinsurance to enhance its insurance businesses. Shareholders received one exchangeable limited voting share of Brookfield Reinsurance for every 145 shares of Brookfield held. These shares, trading under the symbol ‘BAMR’, can be exchanged for Brookfield Shares on a one-for-one basis, with distributions aligned with Brookfield dividends. This initiative aims to provide a scalable platform for investors and strengthen Brookfield's capital-based solutions in the insurance sector.

Brookfield Asset Management (TSX: BAM.A, NYSE: BAM) announced the successful election of all eight nominees to its board of directors during its annual meeting held on June 11, 2021. The meeting, conducted virtually, saw overwhelming support from Class A and Class B shareholders, with over 99% of votes in favor of the nominees. Notable votes included M. Elyse Allan with 99.61% and Hutham S. Olayan with 99.78%. Brookfield, a global alternative asset manager, manages over USD 600 billion in assets across various sectors.

Brookfield Asset Management Inc. (NYSE: BAM) has received approval from the Toronto Stock Exchange for a renewal of its normal course issuer bid. This allows the purchase of up to 132,856,682 Class A Shares, equivalent to 10% of the public float, from May 25, 2021, to May 24, 2022. The company aims to buy back shares as it believes their market price may not reflect their underlying value. Previously, Brookfield repurchased 7,950,206 shares under the prior bid at an average price of US$38.59. An automatic purchase plan will be implemented for efficient trading during blackout periods.

Brookfield Asset Management (NYSE: BAM) reported a record FFO of $2.8 billion for Q1 2021, driven by strong operating performance and capital recycling initiatives. Net income reached $3.8 billion, with total assets under management increasing to $609 billion. The company raised $7 billion in private fund capital during the quarter, contributing to an increase in fee-related earnings by 29% year-over-year. Brookfield declared a quarterly dividend of $0.13 per share, payable on June 30, 2021, reflecting its strong financial position.

Brookfield Asset Management invites investors to its 2021 First Quarter Conference Call on May 13, 2021, at 11:00 a.m. ET. The quarterly results will be released on the same day at 7:00 a.m. ET, available on their website. Investors can join the call by dialing the provided numbers or via a live webcast at the link given. Brookfield manages US$600 billion in assets across various sectors, including real estate and renewable power, providing alternative investment products globally. The company is listed as BAM on the New York and Toronto stock exchanges.

Brookfield Asset Management announced the redemption of its C$600 million principal amount of 4.54% Notes due March 31, 2023, to take place on May 13, 2021. The redemption price will include accrued interest as stipulated in the trust indenture. Notice of this redemption has been sent to CDS Clearing and Depository Services Inc. and the trustee. Brookfield manages US$600 billion in assets globally across various sectors, including real estate and renewable power, offering alternative investment products to a wide range of institutional investors.

Brookfield Asset Management has announced a public offering of senior notes totaling US$500 million, set to mature in 2031 at an interest rate of 2.724% per annum. The offering, expected to close on April 12, 2021, aims to finance Eligible Green Projects. Proceeds will temporarily be used for general corporate purposes, including redeeming existing higher-rate notes. Brookfield, managing US$600 billion in assets, is fully committed to sustainability through this green initiative.

Brookfield Asset Management has sold 8,457,278 common shares of West Fraser Timber Co. Ltd. for approximately $701.26 million, decreasing its ownership from 15.3% to 8.3%. The shares were sold at prices ranging from $78.30 to $84.91. Brookfield now holds 9,913,974 shares of West Fraser. Additionally, Brookfield plans to settle total return swaps for 5,156,885 shares, which could further reduce its holdings to 4,757,089 shares (4% ownership). This transaction was reported in compliance with Canadian securities laws.