Brookfield Announces Reset Dividend Rate on Its Series 38 Preference Shares

Core Points - Brookfield Corporation has announced a fixed dividend rate of 5.185% for its Cumulative Class A Preference Shares, Series 38, for the five-year period from April 1, 2025, to March 31, 2030, translating to $0.3240625 per share per quarter [1][2] - Holders of Series 38 Shares can convert their shares into Series 39 Shares on a one-for-one basis until March 17, 2025, with the Series 39 Shares offering a floating dividend rate based on the yield of three-month Government of Canada treasury bills [3][4] - If the number of Series 38 Shares outstanding falls below 1,000,000 after March 31, 2025, all remaining Series 38 Shares will automatically convert into Series 39 Shares [5] - The Toronto Stock Exchange has conditionally approved the listing of Series 39 Shares, pending Brookfield meeting all listing requirements [6] Company Overview - Brookfield Corporation is a leading global investment firm focused on long-term wealth creation for institutions and individuals, with core businesses in Alternative Asset Management, Wealth Solutions, and Operating Businesses in sectors such as renewable power and real estate [7][8] - The company has a history of delivering over 15% annualized returns to shareholders for more than 30 years, supported by its investment and operational expertise [8]