TORONTO, June 18, 2015 /CNW/ – Brookfield Real Estate Services Inc. (the “Company”) (TSX: BRE), a leading provider of services to residential real estate brokers and their REALTORS®1 today announced that the Board of Directors has increased the Company’s targeted annual cash dividend per restricted voting share to $1.25 per annum ($0.1042 monthly) from $1.20 per annum ($0.10 monthly), an increase of 4.2 per cent. The increase will commence for the July monthly dividend.
“The Company has shown that its structure allows it to participate in expanding markets, and substantially mitigate the impact of cyclical industry corrections,” said Phil Soper, president and chief executive officer, Brookfield Real Estate Services Inc. “Building on our strong performance in 2014 and positive outlook for the year ahead, I am delighted to announce that the Board of Directors has approved an increase to the dividend of 4.2 per cent. Once again we are delivering on our commitment to provide shareholders with a high yield investment vehicle that produces reliable, growing income.”
The monthly cash dividend of $0.1042 per restricted voting share will be payable on July 31, 2015, to shareholders of record on June 30, 2015.
About Brookfield Real Estate Services Inc.
Brookfield Real Estate Services Inc. (TSX: BRE) is a leading provider of services to residential real estate brokers and a network of 16,206 REALTORS®, as at March 31, 2015. It generates cash flow from fixed and variable fees derived from real estate brokers and agents operating in Canada under the Royal LePage, Via Capitale and Johnston & Daniel brands. Approximately 71 per cent of company revenue is based on fees that are fixed in nature, providing revenue stability and helping insulate cash flows from market fluctuations. The recurring fixed revenue structure combined with strong brands and a successful growth strategy position it to continue generating stable, long-term cash flows and paying monthly dividends to shareholders. For further information, please visit www.brookfieldresinc.com.
1 REALTORS® is a trademark identifying real estate licensees in Canada who are members of the Canadian Real Estate Association.
SOURCE Brookfield Real Estate Services Inc.