BROOKFIELD Corp /ON/ (BN) Form 6-K — Oct 22, 2026
Brookfield Corporation filed a 6-K attaching Ontario Articles of Amendment effective October 20, 2026 that create two new series of Class A preference shares: Cumulative Class A Preference Shares, Series 56 and Series 57, each consisting of 8,000,000 shares with a $25.00 issue price. Series 56 pays a fixed 5.65% annual dividend (quarterly $0.353125 per share) until December 31, 2031, after which the rate resets to the greater of the Government of Canada 5-year yield plus 2.15% or 5.65%, with holders able to convert into floating-rate Series 57 shares. Series 57 pays a floating quarterly dividend at the T-Bill Rate plus 2.15%.
Key figures
- Fixed rate floor
- greater of Govt of Canada 5Y yield + 2.15% and 5.65%
- Series 56 shares
- 8000000
- Series 57 shares
- 8000000
- Floating rate spread
- T-Bill Rate + 2.15%
- Redemption hold open
- December 31, 2031
- Issue price per share
- $25.00
- First series 56 dividend
- $0.6192 per share (March 31, 2027)
- Initial fixed dividend rate
- 5.65% per annum
- Regular series 56 quarterly dividend
- $0.353125 per share
AI analysis
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