Brookfield Corporation Enhances Shareholder Value with New Bid
Brookfield Corporation Announces Share Buyback Renewal
Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) has received approval from the Toronto Stock Exchange for the renewal of its normal course issuer bid. This initiative allows Brookfield to purchase up to 143,027,158 Class A Limited Voting Shares, which is about 10% of the public float of Brookfield’s outstanding Class A Shares. The buying will occur on the open market through the TSX, NYSE, and other trading systems, beginning on May 27, 2025, and running through to May 26, 2026, or an earlier completion of purchases.
Details of the Issuer Bid
As of mid-May of this year, Brookfield had 1,647,846,059 Class A Shares issued and outstanding, with 1,430,271,580 classified as the public float. The TSX sets a maximum allowable daily purchase for this issuer bid at 456,420 Class A Shares, calculated as 25% of the average daily trading volume over the previous six months.
Previous Issuer Bid Performance
Brookfield previously had an issuer bid which commenced on May 27, 2024, and runs through May 26, 2025. Under this plan, Brookfield has purchased approximately 22,200,979 Class A Shares by mid-May. Of these, 2,835,555 were acquired through open market purchases on the TSX, and 19,365,424 were bought on the NYSE, with an average purchase price of US$51.20 per share.
Strategic Rationale for the Buyback
The decision to renew the buyback program stems from Brookfield's belief that market prices for its Class A Shares may not consistently reflect the intrinsic value of the business and its future prospects. By engaging in this buyback, Brookfield aims to enhance the value of its outstanding shares. They perceive the buyback as an efficient way to allocate some of their excess cash generated each year, aiming to achieve attractive returns on investment.
Automatic Share Purchase Plan
Brookfield also plans to implement an automatic share purchase plan around the week of June 16, 2025. This system will facilitate the ongoing purchase of Class A Shares while maintaining certain trading parameters, especially during periods when the company typically would not engage in market activity.
About Brookfield Corporation
Brookfield Corporation is recognized as a premier global investment firm with a focus on cultivating long-term wealth for individuals and institutions worldwide. Their business model consists of three primary segments: Alternative Asset Management, Wealth Solutions, and Operating Businesses spanning renewable power, infrastructure, industrial services, and real estate.
Commitment to Shareholder Returns
For over 30 years, Brookfield has consistently delivered annualized returns exceeding 15% to its shareholders. This impressive track record is a result of their strategic investment approach and robust operational capabilities. These strengths are complemented by a well-managed balance sheet and an expansive network that provides access to unique investment opportunities.
Contact Information
For additional information, investors and media can reach out to:
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
Frequently Asked Questions
What is the normal course issuer bid?
A normal course issuer bid allows a company to repurchase its own shares from the open market, aiming to enhance shareholder value.
How many shares can Brookfield buy back under this bid?
Brookfield can purchase up to 143,027,158 Class A Limited Voting Shares.
When does the new buyback program start?
The new buyback program will commence on May 27, 2025, and will run until May 26, 2026.
What percentage of the public float does the buyback represent?
This buyback represents 10% of the public float of Brookfield’s outstanding Class A Shares.
Where can I find more information about Brookfield Corporation?
For more information, you can visit Brookfield’s official website or reach out to their media and investor relations contacts listed above.
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