BN•Brookfield plans to issue 6 million Series 56 preferred shares at CAD 25 each, raising CAD 150 million, with an option to increase proceeds to CAD 200 million. The shares will pay a 5.65% annual dividend through December 31, 2031.
Brookfield plans to issue 6 million Class A Preference Shares, Series 56, at CAD 25 each through a bought deal. Underwriters can purchase 2 million additional shares, which could raise gross proceeds to CAD 200 million.
The shares will pay cumulative quarterly dividends at a fixed annual rate of 5.65% through December 31, 2031. For subsequent five-year periods, the rate will reset to the greater of 5.65% or the five-year Government of Canada bond yield plus 2.15%. Closing is expected around October 22, 2026, and net proceeds are intended for general corporate purposes.
