16:47:30 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 627,925,923
Close 2014-10-06 C$ 50.15
Market Cap C$ 31,490,485,038
Recent Sedar Documents

Brookfield Asset to list Series 42 preferreds Oct. 8

2014-10-06 19:47 ET - Prospectus Approved

Brookfield Asset Management Inc. will list 12 million cumulative Class A preferred shares, Series 42, on the Toronto Stock Exchange at the open on Wednesday, Oct. 8, 2014, according to the TSX. As in an Oct. 1, 2014, prospectus supplement, Brookfield Asset plans to sell 12 million Series 42 shares at $25 each, raising $300-million.

During the initial fixed-rate period, which ends on June 30, 2020, the company plans to pay quarterly cash dividends of 28.125 cents per share on the Series 42 shares, as and when declared by the board, on the last day of March, June, September and December in each year. The initial dividend, if declared, will be 25.89 cents per share, based on the offering closing on Oct. 8, 2014, and will be paid on Dec. 31, 2014.

The Series 42 shares are not redeemable by the company before June 30, 2020. On June 30, 2020, and on June 30 every five years thereafter, the company can redeem any or all of the Series 42 shares for $25 per share plus all declared and unpaid dividends.

On June 30, 2020, and on June 30 every five years thereafter, holders of the Series 42 shares will have the right to convert any or all of their shares into cumulative floating-rate Class A preferred shares, Series 43, on a one-for-one basis.

The TSX reports the Series 42 preferred shares will trade under the symbol BAM.PF.G and Cusip No. 112585 51 8.

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