Brascan's Three For Two Stock Split Ex-Dividend Update.Business Editors TORONTO--(BUSINESS WIRE)--May 19, 2004 Brascan Corporation (NYSE NYSE See: New York Stock Exchange :BNN BNN Boston Neighborhood Network BNN Boundary Network Node (IBM) BNN Back-Propagation Neural Network BNN Biological Neural Network BNN Bart's Neverending Network (public-service TV network in The Netherlands) ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BNN.A) confirmed today, May 19, 2004, as the ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. for its previously announced three-for-two stock split of the company's outstanding common shares, to be implemented by way of a special dividend payable on June 1, 2004. As a result, today's trading activity on the TSX reflected post-stock split prices. NYSE Ex-Dividend Date The ex-dividend date for Brascan's stock split on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. will be June 2, 2004, with shares trading until then at pre-stock split prices under a "due bill" process, consistent with the NYSE's policy to defer the ex-dividend date when distributions or stock splits represent a significant portion of the market value of the common stock. Shareholders wishing to trade on the NYSE between May 19, 2004 (the normal ex-dividend date which usually occurs two days prior to the record date) and June 1, 2004 (the distribution date), will be trading shares at the full value of the stock split. During this period, a buyer of Brascan common shares will be assigned an instrument known as a due bill, which is the right to participate in the stock split. In turn, a seller of Brascan common shares will automatically assign that right to a buyer. The Depository Trust & Clearing Corporation will record all trading activity on the NYSE during this period to facilitate this due bill process. Information on the stock split dividend and on our common and preferred share dividends can be found on our web site under Stock Information. Brascan Corporation is an asset management company. With a focus on real estate and power generation, the company has direct investments of $17 billion and a further $7 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . These include 55 premier office properties and, 48 power generating plants. The company is listed on the New York and Toronto stock exchanges under the symbol BNN and BNN.a, respectively. |
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