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Brookfield Corporation - BN STOCK NEWS

Welcome to our dedicated page for Brookfield Corporation news (Ticker: BN), a resource for investors and traders seeking the latest updates and insights on Brookfield Corporation stock.

Brookfield Corporation (BN) is a leading global investment firm dedicated to building long-term wealth for both institutions and individuals. The company operates three main businesses: Asset Management, Insurance Solutions, and Operating Businesses. Brookfield Corp invests in real assets that form the backbone of the economy, including property, renewable power, infrastructure, and private equity, ensuring the delivery of risk-adjusted returns to its stakeholders.

The firm's extensive portfolio spans across dynamic and resilient markets around the world, including the United States, the UK, Canada, Australia, Brazil, and India. Brookfield Corporation generates the majority of its revenue from its Asset Management business, which focuses on investing in high-quality assets to create value over time.

Brookfield Office Properties, a subsidiary of Brookfield Property Partners, is a significant segment of the corporation. This division owns, manages, and develops premier office properties that define the skylines of major cities such as New York, Washington D.C., Houston, Los Angeles, Toronto, Calgary, London, Sydney, and Perth. Signature properties like Brookfield Place in New York City, Toronto, and Perth, as well as Bankers Hall in Calgary and Bank of America Plaza in Los Angeles, attract major financial, energy, government, and professional services organizations.

Brookfield's recent achievements include regular dividend declarations, strategic acquisitions, and upfinancings, which have significantly strengthened its financial condition. Furthermore, the corporation is known for its strong, consistent performance and partnerships with top-tier organizations that maintain long-term leases.

For the latest updates and detailed information about Brookfield Corporation's performance, ongoing projects, and strategic initiatives, please visit their website at www.bn.brookfield.com.

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Intrepid Fiber Networks has secured $290 million in debt financing to fund its nationwide wholesale open access fiber broadband service. The company, supported by Brookfield, will use the proceeds for inaugural deployments in Colorado and Minnesota, covering over 250,000 premises. Société Générale acted as the Structuring and Coordinating Advisor for the financing.

CEO Jack Waters emphasized that this funding accelerates their growth and build plan. Intrepid aims to deliver future-proof fiber networks with symmetrical gigabit speeds, providing end users with more options in choosing their preferred Internet Service Provider. The company is also evaluating new market deployments to expand its open access network across the nation.

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Brookfield (TSX: BN, NYSE: BN) announced it will host a conference call and webcast for its second quarter 2024 results on August 8, 2024, at 10:00 a.m. (ET). The results will be released earlier that morning before 7:00 a.m. (ET) and will be available on Brookfield's official website. Interested participants can join via a pre-registered conference call or through a webcast. Replay of the event will be available for 90 days on the provided webcast link.

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Brookfield (BN) announced the pricing of a $450 million public offering of senior notes due 2035, with an interest rate of 5.675% per annum. Additionally, the company is reopening $200 million of its 5.968% notes due 2054, increasing the aggregate principal amount to $950 million. The 2054 notes will be issued at 101.435% of their face value with an effective yield of 5.864% if held to maturity. Proceeds will be used for general corporate purposes. The offering is set to close on June 21, 2024, pending customary conditions. The notes will be issued by Brookfield Finance, fully guaranteed by Brookfield, and offered under existing base shelf prospectuses in the US and Canada.

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Brookfield (NYSE: BN, TSX: BN) announced the results of its annual and special meeting of shareholders held on June 7, 2024, in a virtual format. All seven nominees proposed for election to the board by holders of Class A Voting Shares and Class B Voting Shares were elected.

For Class A Shares, nominees received the following votes: M. Elyse Allan (99.68%), Angela F. Braly (99.61%), Janice Fukakusa (99.04%), Maureen Kempston Darkes (96.36%), Frank J. McKenna (91.92%), Hutham S. Olayan (99.27%), and Diana L. Taylor (97.55%).

For Class B Shares, nominees received 100% of the votes. Detailed results are available on SEDAR+.

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Brookfield (NYSE: BN, TSX: BN) has received approval from the Toronto Stock Exchange for the renewal of its normal course issuer bid to purchase up to 142,988,844 Class A Voting Shares. This represents 10% of the public float of Brookfield's outstanding Class A Shares. The purchase period extends from May 27, 2024, to May 26, 2025. Brookfield aims to buy shares on the open market through TSX, NYSE, and other trading systems at market prices or other permissible prices. As of May 17, 2024, Brookfield had 1,642,975,156 Class A Shares issued, with 1,429,888,442 shares in the public float. Under the previous bid, Brookfield purchased 27,869,934 shares at an average price of US$37.24. The company believes the market price may not always reflect its full value and sees this buyback as an attractive investment, aiming to cancel or hold the repurchased shares through a non-independent trustee as part of its long-term incentive plans.

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Brookfield (NYSE: BN, TSX: BN) reported strong first-quarter financial results, with record deployable capital of $150 billion. The company achieved distributable earnings of $4.9 billion and net income of $5.2 billion in the last twelve months. Key highlights include positive momentum in Asset Management, Wealth Solutions, and Operating Businesses, share buybacks totaling over $700 million, and strategic advancements with the acquisition of American Equity Life and a renewables deal with Microsoft. With a focus on compounding long-term wealth for shareholders, Brookfield maintains a record $150 billion of deployable capital and continues to deliver stable cash flows and growth opportunities.

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Brookfield (BN) will host its first quarter 2024 conference call and webcast on May 9, 2024. Results will be released before 7:00 a.m. (ET) on the same day, with participation options via conference call or webcast.
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Brookfield announces no conversion of Series 34 Shares into Series 35 Shares due to insufficient tendered shares.
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Brookfield (BN) filed its 2023 annual materials, including financial statements and analysis, with SEC and Canadian authorities. Shareholders can access them online at brookfield.com or request a hardcopy for free.
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Brookfield Corporation announces the fixed dividend rate on its Cumulative Class A Preference Shares, Series 34, for the five years starting April 1, 2024. Holders have the option to convert to Series 35 Shares with quarterly floating rate dividends. The fixed quarterly dividends on Series 34 Shares will be at an annual rate of 6.145%, while the quarterly dividend rate for Series 35 Shares for the period of April 1, 2024, to June 30, 2024, will be 1.89754%.
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FAQ

What does Brookfield Corporation do?

Brookfield Corporation is an investment firm focused on building long-term wealth through Asset Management, Insurance Solutions, and Operating Businesses.

In which countries does Brookfield have a presence?

Brookfield Corporation has a geographic presence in the United States, the UK, Canada, Australia, Brazil, India, and other countries globally.

What are the core businesses of Brookfield Corporation?

The core businesses of Brookfield Corporation are Asset Management, Insurance Solutions, and Operating Businesses.

What type of assets does Brookfield invest in?

Brookfield invests in real assets that form the backbone of the economy, including property, renewable power, infrastructure, and private equity.

Who are the major tenants of Brookfield Office Properties?

Major tenants include financial, energy, government, and professional services organizations with high credit ratings and long-term leases.

Where are some of Brookfield Office Properties' notable buildings located?

Notable buildings are located in cities like New York, Washington D.C., Houston, Los Angeles, Toronto, Calgary, London, Sydney, and Perth.

What recent achievements has Brookfield Corporation accomplished?

Recent achievements include regular dividend declarations, strategic acquisitions, and upfinancings, enhancing their financial condition.

How does Brookfield Corporation generate most of its revenue?

Brookfield generates the majority of its revenue from its Asset Management business.

What are some signature properties of Brookfield Office Properties?

Signature properties include Brookfield Places in New York City, Toronto, and Perth, as well as Bankers Hall in Calgary and Bank of America Plaza in Los Angeles.

How can I obtain more information about Brookfield Corporation?

For more information, please visit their website at www.bn.brookfield.com.

Brookfield Corporation

NYSE:BN

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BN Stock Data

72.91B
1.64B
19.44%
64.52%
0.78%
Lessors of Nonresidential Buildings (except Miniwarehouses)
Real Estate and Rental and Leasing
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United States of America
Toronto