Brookfield Asset Management's Preference Shares, Series 28, Cross 4% Yield Mark

In trading on Thursday, shares of Brookfield Asset Management Inc's Cumulative Class A Preference Shares, Series 28 (TSX: BAM-PRX.TO) were yielding above the 4% mark based on its quarterly dividend (annualized to $0.6817), with shares changing hands as low as $16.89 on the day. As of last close, BAM.PRX was trading at a 30.60% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible.

The chart below shows the one year performance of BAM.PRX shares, versus BAM:

Below is a dividend history chart for BAM.PRX, showing historical dividend payments on Brookfield Asset Management Inc's Cumulative Class A Preference Shares, Series 28:

In Thursday trading, Brookfield Asset Management Inc's Cumulative Class A Preference Shares, Series 28 (TSX: BAM-PRX.TO) is currently off about 2.6% on the day, while the common shares (Symbol: BAM) are down about 0.9%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.