Brookfield Asset Management has announced the renewal of its normal course issuer bid, allowing the repurchase of up to 37,123,295 Class A Limited Voting Shares, which represents about 10% of its public float, according to Tipranks’ Stock Screener.
This initiative is part of Brookfield’s broader investment and capital allocation strategies. Shares acquired under this program will either be cancelled or held in trust as part of the company’s long-term incentive plans.
Additionally, Brookfield has implemented an automatic purchase plan to facilitate share buybacks during trading blackout periods.
The firm’s year-to-date price performance is sitting at 2.23%, with an average trading volume of 952,528.
