Brookfield Renews Buyback for 10% of Preferred Shares Float
By Adriano Marchese
Brookfield said it intends to renew a repurchase plan to buy back up to one-tenth of its preferred shares over the course of a one-year period.
The Canadian alternative investment management company said Tuesday the Toronto Stock Exchange approved the renewal of its normal course issuer bid to purchase up to 10% of the public float of its outstanding Class A preference shares.
The company's Class A preference shares are divided into several series. Shares have been performing well in the year so far, rising over 20% and closing on Monday at 64.01 Canadian dollars ($46.95).
Brookfield can begin buying back the shares beginning on Aug. 22.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
August 20, 2024 07:22 ET (11:22 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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