Brookfield Corporation Extends Preferred Share Buyback
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Brookfield Corporation Announces Renewal of Normal Course Issuer Bid
BROOKFIELD, NEWS — Brookfield Corporation (TSX: BN, NYSE: BN) today announced it has received approval from the Toronto Stock Exchange ("TSX") for the renewal of its normal course issuer bid to purchase up to 10% of the public float of each series of the company’s outstanding Class A Preference Shares that are listed on the TSX (the “Preferred Shares”). Purchases under the bid will be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems. The period of the normal course issuer bid will extend for one year from its commencement, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any Preferred Shares purchased or such other price as may be permitted. All Preferred Shares acquired by Brookfield under this bid will be cancelled.
Details of the Normal Course Issuer Bid
Under the normal course issuer bid, Brookfield is authorized to repurchase each respective series of the Preferred Shares. The authorized repurchase details for each series include information about the ticker, issued and outstanding shares, public float, and average daily trading volume.
Market Activity and Repurchases
As of the end of the fiscal year, Brookfield has not made any purchases under the current normal course issuer bid. The company believes that the renewed normal course issuer bid will provide the flexibility to utilize available funds to purchase Preferred Shares when they are trading below their true value.
Automatic Share Purchase Plan Implementation
Brookfield intends to enter into an automatic share purchase plan in relation to the normal course issuer bid, allowing for purchases of Preferred Shares outside of traditional trading hours when internal trading restrictions are in place. This automatic plan will let Brookfield operate within set trading parameters during black-out periods.
About Brookfield Corporation
Brookfield Corporation is a leading global investment firm focused on creating long-term wealth for institutions and individuals worldwide. With three core business areas—Alternative Asset Management, Wealth Solutions, and Operating Businesses—Brookfield drives innovations in renewable power, infrastructure, and real estate.
The firm has delivered over 15% annualized returns to shareholders for over 30 years, backed by extensive investment experience. Brookfield’s well-managed balance sheet and global networks give them access to unique market opportunities, reinforced by the Brookfield Ecosystem that supports collaboration across its divisions. Brookfield Corporation is publicly traded in both New York and Toronto.
Contact Information
Media: Kerrie McHugh
Tel: (212) 618-3469
Email: kerrie.mchugh@brookfield.com
Investor Relations: Linda Northwood
Tel: (416) 359-8647
Email: linda.northwood@brookfield.com
Frequently Asked Questions
What is a normal course issuer bid?
A normal course issuer bid is a program that allows a company to purchase its own shares from the stock market under specific provisions to manage its capital.
How much of the Preferred Shares can Brookfield purchase?
Brookfield can repurchase up to 10% of the public float of each series of its outstanding Class A Preference Shares.
What does the automatic share purchase plan entail?
The automatic share purchase plan allows Brookfield to buy Preferred Shares during specific periods when it usually would not trade due to internal restrictions.
How has Brookfield performed in the past?
Brookfield has delivered average annualized returns exceeding 15% for over three decades to its shareholders.
What sectors does Brookfield operate in?
Brookfield operates primarily in renewable energy, infrastructure, real estate, and business and industrial services.
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