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Name | Symbol | Market | Type |
---|---|---|---|
Brookfield Investments Corporation | TSXV:BRN.PR.A | TSX Venture | Preference Share |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.07 | 0.28% | 25.00 | 24.93 | 25.50 | 25.00 | 25.00 | 25.00 | 400 | 14:45:28 |
Dividend and interest income for the first three months of 2011 was $10 million, compared to $8 million for the same period in 2010. Dividend payments, classified as interest expense, totalled $7 million for the first three months of 2011, consistent with the payment in 2010. Panelboard investments, held through Norbord Inc., contributed $nil for the first three months of 2011, compared to a net loss of $1 million for the same period in 2010. The company's investment in Brookfield Europe L.P. contributed $3 million of income in the first quarter of 2010.
The company's Board of Directors declared the regular quarterly dividend of C$0.29375 per share on its Senior Preferred Shares, Series A payable on June 30, 2010 to shareholders of record on June 20, 2010.
Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield Asset Management Inc. group. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc., a global asset manager focused on property, power and infrastructure assets.
---------------------------------------------------------------------------- Consolidated Statements of Operations (unaudited) Three months ended March 31 US$ millions, except per share amounts 2011 2010 ---------------------------------------------------------------------------- Investment income Equity accounted income from Brookfield Europe L.P. $ 49 $ 3 Equity accounted loss from Norbord Inc. - (1) Dividend and interest income 10 8 Foreign exchange loss - (46) ---------------------------------------------------------------------------- 59 (36) ---------------------------------------------------------------------------- Expenses Interest 7 7 ---------------------------------------------------------------------------- Net income (loss) before income taxes 52 (43) Income tax (expense) recovery (5) 1 ---------------------------------------------------------------------------- Net income (loss) $ 47 $ (42) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Net income (loss) per common share $ 1.02 $ (0.91) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Consolidated Statements of Comprehensive Income (unaudited) Three months ended March 31 US$ millions 2011 2010 ---------------------------------------------------------------------------- Net income (loss) $ 47 $ (42) Other comprehensive income Foreign currency translation 10 (21) Available-for-sale securities 19 197 Equity accounted other comprehensive income (loss) 6 (1) Deferred income tax (4) 1 ---------------------------------------------------------------------------- 31 176 ---------------------------------------------------------------------------- Comprehensive income $ 78 $ 134 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Consolidated Balance Sheets (unaudited) March 31, December 31, US$ millions 2011 2010 ---------------------------------------------------------------------------- Assets Current assets Deposits receivable $ 45 $ - Securities 243 227 Non-current assets Investments - Securities Brookfield Office Properties Inc. 976 973 Investments - Associates Brookfield Europe L.P. 405 366 Norbord Inc. 80 79 ---------------------------------------------------------------------------- $ 1,749 $ 1,645 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Liabilities Current liabilities Deposits payable $ - $ 27 Retractable preferred shares 712 708 Deferred taxes 54 40 Equity 983 870 ---------------------------------------------------------------------------- $ 1,749 $ 1,645 ---------------------------------------------------------------------------- ----------------------------------------------------------------------------
Contacts: Brookfield Investments Corporation Derek E. Gorgi Vice President and Chief Financial Officer 416-363-9491
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