Brookfield Asset Management’s Series B Preferred Shares Cross Above 7.5% Yield Territory

In trading on Monday, shares of Brookfield Asset Management Ltd’s 6.550% Series B Preferred Units (Symbol: OAK.PRB) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.6375), with shares changing hands as low as $21.80 on the day. This compares to an average yield of 5.99% in the “Business Services & Equipment” preferred stock category, according to Preferred Stock Channel. As of last close, OAK.PRB was trading at a 12.32% discount to its liquidation preference amount, versus the average discount of 4.63% in the “Business Services & Equipment” category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

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

Below is a dividend history chart for OAK.PRB, showing historical dividend payments on Brookfield Asset Management Ltd’s 6.550% Series B Preferred Units :

In Monday trading, Brookfield Asset Management Ltd’s 6.550% Series B Preferred Units (Symbol: OAK.PRB) is currently down about 0.1% on the day, while the common shares (Symbol: BAM) are up about 1.6%.

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