Brookfield Corporation Announces No Conversion of Series 38 Preferred Shares

On March 24, 2025, Brookfield Corporation (NYSE: BN, TSX: BN) revealed that the results of the conversion option for its Cumulative Class A Preference Shares, Series 38, have been finalized. The Series 38 Shares, which are also identified on the Toronto Stock Exchange as BN.PF.E, had a conversion opportunity into Cumulative Class A Preference Shares, Series 39.

According to the announcement, the company received a total of 42,035 election notices from shareholders wishing to convert their Series 38 Shares into Series 39 Shares. This number is notably below the one million shares that were needed to activate the conversion process. As a result, Brookfield Corporation confirmed that there would be no conversion of the Series 38 Shares, and shareholders will continue to hold their existing Series 38 Shares.

About Brookfield Corporation

Brookfield Corporation is recognized as a leading global investment firm that aims to create long-term wealth for both institutions and individuals worldwide. Its business structure is primarily organized into three essential areas: Alternative Asset Management, Wealth Solutions, and the Operating Businesses. These Operating Businesses are diverse and include sectors such as renewable power, infrastructure, business and industrial services, and real estate.

The firm has a consistent record of delivering annualized returns exceeding 15% to its shareholders for more than three decades. This success is grounded in its prudent management practices, considerable operational experience, and a robust global sourcing network that helps uncover unique investment opportunities. Central to Brookfield's strategy is the Brookfield Ecosystem, which operates on the principle that each business unit within the corporation benefits from collaboration and integration with the larger organization.

Brookfield Corporation is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange, symbolized as BN.

Contact Information

For further inquiries or insights regarding Brookfield Corporation, interested parties can reach out to the media contact Kerrie McHugh at (212) 618-3469 or via email at [email protected]. Investor relations inquiries can be directed to Katie Battaglia, who can be contacted at (212) 776-2252 or at [email protected].

Brookfield, Shares, Conversion