Brookfield Announces Reset Dividend Rate on Its Series 24 Preference Shares
Rhea-AI Summary
Brookfield (NYSE: BN, TSX: BN) reset the dividend rate on its Cumulative Class A Preference Shares, Series 24 (TSX: BN.PR.R) for July 1, 2026–June 30, 2031. The fixed annual dividend rate will be 5.432%, or $0.3395 per share quarterly, if declared.
Holders may convert Series 24 into Series 25 shares by June 15, 2026. Series 25 will pay a floating rate of 2.30% over three‑month Government of Canada T‑bills, with an initial annualized rate of 4.623%.
Positive
- Series 24 dividend rate reset to 5.432% annually for 2026–2031
- Series 24 quarterly dividend set at $0.3395 per share, if declared
- Optional conversion into floating-rate Series 25 shares by June 15, 2026
- Series 25 initial annualized dividend rate set at 4.623% for Q3 2026
- Conditional TSX listing approval granted for Series 25 shares upon conversion
- Current Series 24 outstanding total 10,808,027 shares, indicating sizable issue
Negative
- None.
News Market Reaction – BN
In the Jun 2 session, BN gained 0.60%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
All amounts in Canadian dollars unless otherwise stated.
BROOKFIELD, NEWS, June 01, 2026 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today announced the reset dividend rate on its Cumulative Class A Preference Shares, Series 24 (the “Series 24 Shares”) (TSX: BN.PR.R) for the five years commencing July 1, 2026 and ending June 30, 2031.
If declared, the fixed quarterly dividends on the Series 24 Shares during the five years commencing July 1, 2026 will be paid at an annual rate of
Holders of Series 24 Shares have the right, at their option, exercisable not later than 5:00 p.m. (Toronto time) on June 15, 2026, to convert all or part of their Series 24 Shares, on a one-for-one basis, into Cumulative Class A Preference Shares, Series 25 (the “Series 25 Shares”), effective June 30, 2026. The quarterly floating rate dividends on the Series 25 Shares will be paid at an annual rate, calculated for each quarter, of
Holders of Series 24 Shares are not required to elect to convert all or any part of their Series 24 Shares into Series 25 Shares.
As provided in the share conditions of the Series 24 Shares, (i) if Brookfield determines that there would be fewer than 1,000,000 Series 24 Shares outstanding after June 30, 2026, all remaining Series 24 Shares will be automatically converted into Series 25 Shares on a one-for-one basis effective June 30, 2026; and (ii) if Brookfield determines that there would be fewer than 1,000,000 Series 25 Shares outstanding after June 30, 2026, no Series 24 Shares will be permitted to be converted into Series 25 Shares. There are currently 10,808,027 Series 24 Shares outstanding.
The Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the Series 25 Shares effective upon conversion. Listing of the Series 25 Shares is subject to Brookfield fulfilling all the listing requirements of the TSX.
About Brookfield Corporation
Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Asset Management, Wealth Solutions, and our Operating Businesses which are in energy, infrastructure, private equity, and real estate.
We have a track record of delivering
For more information, please contact:
| Communications & Media: Kerrie McHugh Tel: (212) 618-3469 Email: kerrie.mchugh@brookfield.com | Investor Relations: Katie Battaglia Tel: (416) 359-8544 Email: katie.battaglia@brookfield.com |
