Brookfield Asset Management Inc to split stock and hike dividend by 6% to boost liquidity

Brookfield is adjusting its dividend policy to reflect the additional number of common shares that will be outstanding.

TORONTO – Brookfield Asset Management Inc. has announced a six percent increase in its cash dividend along with a three-for-two split of its class A shares, saying the move is aimed at improving liquidity and ensuring its stock remains accessible to individual shareholders.

Brookfield announced after markets closed the split could be implemented using a stock dividend whereby shareholders will receive half a Brookfield Class A Share for each Class A and sophistication B Share held.

The stock dividend is going to be payable May 12 to shareholders of record at the close of business May 5, with fractional shares being paid in cash in line with the closing cost of the Class A Shares around the Toronto Stock market on the record date.

Since the organization is ascribing no value to the stock dividend, it will not be taxable in Canada or even the United States, although any cash received for fractional shares will be taxable.

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