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Form 6-K BROOKFIELD ASSET MANAGEM For: Mar 02

March 15, 2022 11:05 AM EDT

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2022

Commission File Number: 001-15160

Brookfield Asset Management Inc.
(Translation of registrant's name into English)

Brookfield Place Suite 300 181 Bay Street, P.O. Box 762 Toronto, Ontario, Canada M5J 2T3
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [   ]      Form 40-F [ X ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):        

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):        

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. 


EXHIBIT INDEX

Exhibit Number Description
   
99.1 Press Release dated March 2, 2022


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

      Brookfield Asset Management Inc.    
  (Registrant)
   
  
Date: March 2, 2022     /s/ JUSTIN B. BEBER    
  Justin Beber
  Head of Corporate Strategy and Chief Legal Officer
  

EXHIBIT 99.1

Brookfield Announces Reset Dividend Rate on Its Series 26 and Series 46 Preference Shares

All amounts in Canadian dollars unless otherwise stated.

BROOKFIELD, NEWS, March 02, 2022 (GLOBE NEWSWIRE) -- Brookfield (NYSE: BAM, TSX: BAM.A) today announced that it has determined the fixed dividend rate on its Cumulative Class A Preference Shares, Series 26 (“Series 26 Shares”) (TSX: BAM.PR.T) for the five years commencing April 1, 2022 and ending March 31, 2027, and also determined the fixed dividend on its Cumulative Class A Preference Shares, Series 46 (“Series 46 Shares”) (TSX: BAM.PF.I) for the five years commencing April 1, 2022 and ending March 31, 2027.

Series 26 Shares and Series 27 Shares

If declared, the fixed quarterly dividends on the Series 26 Shares during the five years commencing April 1, 2022 will be paid at an annual rate of 3.846% ($0.240375 per share per quarter).

Holders of Series 26 Shares have the right, at their option, exercisable not later than 5:00 p.m. (Toronto time) on March 16, 2022, to convert all or part of their Series 26 Shares, on a one-for-one basis, into Cumulative Class A Preference Shares, Series 27 (the “Series 27 Shares”), effective March 31, 2022. The quarterly floating rate dividends on the Series 27 Shares will be paid at an annual rate, calculated for each quarter, of 2.31% over the annual yield on three-month Government of Canada treasury bills. The actual quarterly dividend rate in respect of the April 1, 2022 to June 30, 2022 dividend period for the Series 27 Shares will be 0.72925% (2.925% on an annualized basis) and the dividend, if declared, for such dividend period will be $0.1823125 per share, payable on June 30, 2022.

Holders of Series 26 Shares are not required to elect to convert all or any part of their Series 26 Shares into Series 27 Shares.

As provided in the share conditions of the Series 26 Shares, (i) if Brookfield determines that there would be fewer than 1,000,000 Series 26 Shares outstanding after March 31, 2022, all remaining Series 26 Shares will be automatically converted into Series 27 Shares on a one-for-one basis effective March 31, 2022; and (ii) if Brookfield determines that there would be fewer than 1,000,000 Series 27 Shares outstanding after March 31, 2022, no Series 26 Shares will be permitted to be converted into Series 27 Shares. There are currently 9,770,928 Series 26 Shares outstanding.

The Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the Series 27 Shares effective upon conversion. Listing of the Series 27 Shares is subject to Brookfield fulfilling all the listing requirements of the TSX.

Series 46 Shares and Series 47 Shares

If declared, the fixed quarterly dividends on the Series 46 Shares during the five years commencing April 1, 2022 will be paid at an annual rate of 5.386% ($0.336625 per share per quarter).

Holders of Series 46 Shares have the right, at their option, exercisable not later than 5:00 p.m. (Toronto time) on March 16, 2022, to convert all or part of their Series 46 Shares, on a one-for-one basis, into Cumulative Class A Preference Shares, Series 47 (the “Series 47 Shares”), effective March 31, 2022. The quarterly floating rate dividends on the Series 47 Shares will be paid at an annual rate, calculated for each quarter, of 3.85% over the annual yield on three-month Government of Canada treasury bills. The actual quarterly dividend rate in respect of the April 1, 2022 to June 30, 2022 dividend period for the Series 47 Shares will be 1.11319% (4.465% on an annualized basis) and the dividend, if declared, for such dividend period will be $0.2782975 per share, payable on June 30, 2022.

Holders of Series 46 Shares are not required to elect to convert all or any part of their Series 46 Shares into Series 47 Shares.

As provided in the share conditions of the Series 46 Shares, (i) if Brookfield determines that there would be fewer than 1,000,000 Series 46 Shares outstanding after March 31, 2022, all remaining Series 46 Shares will be automatically converted into Series 47 Shares on a one-for-one basis effective March 31, 2022; and (ii) if Brookfield determines that there would be fewer than 1,000,000 Series 47 Shares outstanding after March 31, 2022, no Series 46 Shares will be permitted to be converted into Series 47 Shares. There are currently 11,740,797 Series 46 Shares outstanding.

The Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the Series 47 Shares effective upon conversion. Listing of the Series 47 Shares is subject to Brookfield fulfilling all the listing requirements of the TSX.

About Brookfield

Brookfield (NYSE: BAM, TSX: BAM.A) is a leading global alternative asset manager with approximately US$690 billion of assets under management across real estate, infrastructure, renewable power and transition, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

For more information, please visit our website at www.brookfield.com or contact:

MediaInvestor Relations
Kerrie McHughLinda Northwood
Tel: +1 212 618 3469Tel: +1 416 359-8647
Email: [email protected]Email: [email protected]



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