BN.PF.A : No Daycount Factor on Dividends

The story so far:
1. A reset rate of 6.744% was announced, with a dividend amount that did not compute.
2. The company said the dividend amount stated included a daycount factor, but did not get back to me quickly to respond to my further questions
3. And now …

I have received the following communication from Brookfield Investor Relations:

If series 32 shares are not converted, a fixed-rate dividend of $0.4215 (C$25 x 6.744% / 4 quarters) will be made each quarter and it will not be adjusted for a day-count factor. Please disregard our previous email, which may have suggested that it would be. The Canadian Depository for Securities Limited (CDS Ltd.) will publish a bulletin that confirms the aforementioned dividend rate, which you can access through your broker.

We apologize for any confusion. Please let us know if you have any other questions or need further clarification.

So all’s well that ends well.

One Response to “BN.PF.A : No Daycount Factor on Dividends”

  1. […] If declared, the fixed quarterly dividends on the Series 32 Shares during the five years commencing October 1, 2023 will be paid at an annual rate of 6.744% ($0.4249644 per share per quarter – inoperable. See BN.PF.A : No Daycount Factor on Dividends). […]

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