Brookfield Announces Reset Dividend Rate on Its Series 42 Preference Shares

Rhea-AI Summary

Brookfield Corporation (NYSE: BN, TSX: BN) has announced the reset dividend rate for its Series 42 Preference Shares for July 1, 2025 to June 30, 2030. The fixed quarterly dividends will be paid at an annual rate of 5.658% ($0.353625 per share per quarter). Shareholders can convert their Series 42 Shares to Series 43 Shares by June 16, 2025. Series 43 Shares will have quarterly floating rate dividends at 2.84% over three-month Government of Canada treasury bills yield. For July-September 2025, Series 43 dividend rate will be 5.484% annually ($0.3455675 per share). Currently, 11,887,500 Series 42 Shares are outstanding. If fewer than 1,000,000 shares remain in either series after conversion, automatic conversion rules will apply.

Positive

• Fixed annual dividend rate of 5.658% provides stable income for Series 42 shareholders
• Shareholders have flexibility to convert to floating rate Series 43 shares
• Large outstanding share base of 11,887,500 Series 42 shares indicates good liquidity

Negative

• None.

All amounts in Canadian dollars unless otherwise stated.

BROOKFIELD, NEWS, June 03, 2025 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today announced that it has determined the fixed dividend rate on its Cumulative Class A Preference Shares, Series 42 (the “Series 42 Shares”) (TSX: BN.PF.G) for the five years commencing July 1, 2025 and ending June 30, 2030.

If declared, the fixed quarterly dividends on the Series 42 Shares during the five years commencing July 1, 2025 will be paid at an annual rate of 5.658% ($0.353625 per share per quarter).

Holders of Series 42 Shares have the right, at their option, exercisable not later than 5:00 p.m. (Toronto time) on June 16, 2025, to convert all or part of their Series 42 Shares, on a one-for-one basis, into Cumulative Class A Preference Shares, Series 43 (the “Series 43 Shares”), effective June 30, 2025. The quarterly floating rate dividends on the Series 43 Shares will be paid at an annual rate, calculated for each quarter, of 2.84% over the annual yield on three-month Government of Canada treasury bills. The actual quarterly dividend rate in respect of the July 1, 2025 to September 30, 2025 dividend period for the Series 43 Shares will be 1.38227% (5.484% on an annualized basis) and the dividend, if declared, for such dividend period will be $0.3455675 per share, payable on September 30, 2025.

Holders of Series 42 Shares are not required to elect to convert all or any part of their Series 42 Shares into Series 43 Shares.

As provided in the share conditions of the Series 42 Shares, (i) if Brookfield determines that there would be fewer than 1,000,000 Series 42 Shares outstanding after June 30, 2025, all remaining Series 42 Shares will be automatically converted into Series 43 Shares on a one-for-one basis effective June 30, 2025; and (ii) if Brookfield determines that there would be fewer than 1,000,000 Series 43 Shares outstanding after June 30, 2025, no Series 42 Shares will be permitted to be converted into Series 43 Shares. There are currently 11,887,500 Series 42 Shares outstanding.

The Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the Series 43 Shares effective upon conversion. Listing of the Series 43 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: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

For more information, please visit our website at www.bn.brookfield.com or contact:

Media:		Investor Relations:
Kerrie McHugh		Katie Battaglia
Tel: (212) 618-3469		Tel: (416) 359-8544
Email: kerrie.mchugh@brookfield.com		Email: katie.battaglia@brookfield.com

FAQ

What is the new dividend rate for Brookfield Series 42 Preference Shares (BN.PF.G)?

The new fixed annual dividend rate for Series 42 Preference Shares is 5.658% ($0.353625 per share per quarter) for the period from July 1, 2025 to June 30, 2030.

When can Brookfield Series 42 shareholders convert to Series 43 shares?

Shareholders can convert their Series 42 shares to Series 43 shares by 5:00 p.m. (Toronto time) on June 16, 2025, effective June 30, 2025.

What is the dividend rate for Brookfield Series 43 Preference Shares?

Series 43 shares will have a floating rate of 2.84% over the three-month Government of Canada treasury bills yield, with the first payment period (July-September 2025) set at 5.484% annually.

How many Brookfield Series 42 Preference Shares are currently outstanding?

There are currently 11,887,500 Series 42 Preference Shares outstanding.

What happens if there are fewer than 1,000,000 shares in either series after conversion?

If fewer than 1,000,000 Series 42 Shares remain, they will automatically convert to Series 43 Shares. If fewer than 1,000,000 Series 43 Shares would result, no conversions will be permitted.