OTTAWA (dpa-AFX) - On Thursday, Brookfield Corporation (BN, BN.TO) plans to issue 6 million Series 56 preferred shares at C$25 each, raising C$150 million. The shares will pay a fixed annual dividend of 5.65% until December 31, 2031. After that, the rate will reset every five years to the higher of 5.65% or the five-year Canadian government bond yield plus 2.15%.
Brookfield has granted underwriters an option to purchase an additional 2 million Series 56 preferred shares, potentially increasing the offering to C$200 million. The shares will be offered across Canada, with U.S. sales restricted unless registration or an exemption applies.
Proceeds will be used for general corporate purposes, and the offering is expected to close around October 22, 2026.
On the NYSE, the shares were trading 1.00 percent up at $36.31.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
