** All share dividend payments are subject to declaration by our Board of Directors.
We modified our dividend payment schedule in order to begin paying dividends on the last day of each quarter, commencing in the second quarter of 2014. The purpose of this change is to create a consistent quarterly record date and payment date with our three flagship public entities and the payment dates for most of our preferred shares.
To achieve this, the Board of Directors declared a quarterly dividend of US$0.20 per share, payable on February 28, 2014, to shareholders of record as at the close of business on February 1, 2014. This dividend does not represent an increase in the current annualized rate because it is intended to represent the four-month period up to and including March 31, 2014. The next quarterly dividend will be paid on June 30, 2014, representing the three month period then ended.
Please note that the quarterly dividend payable on Brookfield's Class A Limited Voting Shares is declared in US dollars. Registered shareholders who are U.S. residents receive their dividends in U.S. dollars, unless they request the Cdn. dollar equivalent. Registered shareholders who are Canadian residents receive their dividends in the Cdn. dollar equivalent, unless they request to receive dividends in U.S. dollars. The Canadian dollar equivalent of the quarterly dividend is based on the Bank of Canada noon exchange rate on the record date or, if this falls on a weekend or holiday, on the following business day.
Special Dividend - Brookfield Property Partners
Effective April 15, 2013, Brookfield’s Board of Directors paid a special dividend of one unit of Brookfield Property Partners (BPY) per 17.42 Brookfield Asset Management Class A Limited Voting Shares held by shareholders of record at the close of business on March 26, 2013. The units commenced trading on the New York Stock Exchange (NYSE: BPY) and Toronto Stock Exchange (TSX: BPY.UN) on April 15,2013. Fractional shares were paid in cash based on the weighted average trading price of units on the NYSE and TSX for the five trading days following the commencement of trading, which is US$21.8271 and C$22.3085 per unit, respectively.
Special Dividend - Brookfield Infrastructure Partners L.P.
Effective January 31, 2008, Brookfield’s Board of Directors paid a special dividend of one unit of Brookfield Infrastructure Partners L.P. (BIP) per 25 Class A Limited Voting Shares held by shareholders of record at the close of business on January 14, 2008. The units commenced trading on the New York Stock Exchange (“NYSE”), under the symbol BIP, on January 31, 2008. Fractional shares were paid in cash based on the weighted average trading price of units on the NYSE for the five trading days following the commencement of trading, which has been calculated to be US$20.5565 per unit.
Dividend Reinvestment Plan
The Depository Trust Company (“DTC”) has terminated its participation in Dividend Reinvestment Programs (“DRIP”) for Canadian securities for all events announced with a record date beyond March 31, 2014. Please note that this affects only beneficial holders who hold Class A Limited Voting Shares of Brookfield Asset Management through DTC participant brokers in the U.S. and who are currently enrolled in our DRIP. All such holders of record on May 31, 2014, the record date for our June 30, 2014 quarterly dividend payment, will receive a cash dividend rather than additional Class A Limited Voting Shares under our DRIP.
Please see the below link for the official notice from DTC, including information for U.S. beneficial holders who still want to participate in dividend reinvestment.
Registered shareholders of our Class A Limited Voting Shares who are resident in the United States may elect to receive their dividends in the form of issued Class A Limited Voting Shares at a price equal to the volume-weighted average price (in U.S. dollars) at which board lots of shares traded on the NYSE based on the average closing price during each of the five trading days immediately preceding the relevant dividend payment date on which at least one board lot of shares has traded, as reported by the NYSE ("NYSE VWAP").
Registered shareholders of our Class A Limited Voting Shares who are resident in Canada may also elect to receive their dividends in the form of issued Class A Limited Voting Shares at a price equal to the NYSE VWAP multiplied by an exchange factor which is calculated as the average noon exchange rate as reported by the Bank of Canada during each of the five trading days immediately preceding the relevant dividend payment date.
Utilization of the Plan allows current shareholders to acquire additional shares in Brookfield Asset Management Inc. without payment of commissions.
If you are interested in this Plan, please click on the links below to view a copy of the Plan and the related Participation Form. To participate in the Plan, please complete and sign the Form and mail or fax it to our transfer agent.
If you have any questions about our Dividend Reinvestment Plan, please contact Brookfield Asset Management Inc. at firstname.lastname@example.org
or call the Shareholder Inquiries line in North America at 1-866-989-0311, and globally please call 1-416-363-9491.