Eye Catching Stock: Brookfield Asset Management Inc. (NYSE:BAM)

Eye Catching Stock: Brookfield Asset Management Inc. (NYSE:BAM)

Brookfield Asset Management Inc. (NYSE:BAM) changed 0.72% to recent value of $53.48. The stock transacted 2284706 shares during most recent day however it has an average volume of 1360.81K shares. It spotted trading 0.15% off 52-week high price. On the other end, the stock has been noted 46.20% away from the low price over the last 52-weeks.

On Sept. 03, 2019, Brookfield Asset Management Inc. (TSX: BAM.A, NYSE:BAM, Euronext:BAMA)  revealed that it has determined the fixed dividend rate on its Cumulative Class A Preference Shares, Series 40 (Series 40 Shares) (TSX: BAM.PF.F) for the five years commencing October 1, 2019 and ending September 30, 2024, and also determined the quarterly dividend on its floating rate Cumulative Class A Preference Shares, Series 25 (Series 25 Shares) (TSX: BAM.PR.S).

Series 40 Shares and Series 41 Shares

If declared, the fixed quarterly dividends on the Series 40 Shares during the five years commencing October 1, 2019 will be $0.2518125 per share per quarter, which represents a yield of 6.105% on the most recent trading price, similar to the current yield. The new fixed dividend rate that will apply for the five years commencing October 1, 2019 represents a yield of 4.029% based on the redemption price of $25 per share.

Holders of Series 40 Shares have the right, at their option, exercisable not later than 5:00 p.m. (Toronto time) on September 16, 2019, to convert all or part of their Series 40 Shares, on a one-for-one basis, into Cumulative Class A Preference Shares, Series 41 (the Series 41 Shares), effective September 30, 2019.

The quarterly floating rate dividends on the Series 41 Shares will be paid at an annual rate, calculated for each quarter, of 2.86% over the annual yield on three-month Government of Canada treasury bills. The actual quarterly dividend rate in respect of the October 1, 2019 to December 31, 2019 dividend period for the Series 41 Shares will be 1.13374% (4.498% on an annualized basis) and the dividend, if declared, for such dividend period will be $0.283435 per share, payable on December 31, 2019.

Holders of Series 40 Shares are not required to elect to convert all or any part of their Series 40 Shares into Series 41 Shares.

As provided in the share conditions of the Series 40 Shares: (i) if Brookfield determines that there would be fewer than 1,000,000 Series 40 Shares outstanding after September 30, 2019, all remaining Series 40 Shares will be automatically converted into Series 41 Shares on a one-for-one basis effective September 30, 2019; and (ii) if Brookfield determines that there would be fewer than 1,000,000 Series 41 Shares outstanding after September 30, 2019, no Series 40 Shares will be permitted to be converted into Series 41 Shares. There are currently 11,841,025 Series 40 Shares outstanding.

BAM has a gross margin of 21.20% and an operating margin of 9.00% while its profit margin remained 4.60% for the last 12 months. Its earnings per share (EPS) expected to touch remained 161.40% for this year while earning per share for the next 5-years is expected to reach at -3.59%.

The company has 949.71M of outstanding shares and 813.1M shares were floated in the market.  The price moved ahead of 4.41% from the mean of 20 days, 7.64% from mean of 50 days SMA and performed 16.39% from mean of 200 days price. Company’s performance for the week was 3.99%, 8.61% for month and YTD performance remained 39.45%.

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