Brookfield Real Estate Services Inc. Announces Increase in Targeted Annual Cash Dividend
November 06 2013 - 7:00AM
PR Newswire (Canada)
TORONTO, Nov. 6, 2013 /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 from $1.10
per annum to $1.20 per annum for
2014. This dividend is to be paid at a rate of $0.10 per month and is to commence for the month
of January 2014, payable on
February 28, 2014, to shareholders of
record on January 31, 2013.
Brookfield Real Estate Services Inc. Profile
The Company is a leading provider of services to residential real
estate brokers and their REALTORS®. The Company
generates cash flow from franchise royalties and service fees
derived from a national network of real estate brokers and agents
in Canada operating under the
Royal LePage, Via Capitale Real Estate Network and Johnston
& Daniel brand names. At September 30,
2013, the Company network consisted of 15,451
REALTORS®. The Company network has an approximate 24%
share of the Canadian residential resale real estate market based
on 2012 transactional dollar volume. The Company generates both
fixed and variable fee components. Variable fees are primarily
driven by the total transactional dollar volume from the sales
commissions of REALTORS®, while fixed fees are based on
the number of agents and sales representatives in the network.
Approximately 73% of the Company's revenue is based on fees that
are fixed in nature; this provides revenue stability and helps
insulate the Company's cash flows from market fluctuations. The
Company is listed on the TSX and trades under the symbol "BRE". For
further information about the Company, please
visit www.brookfieldresinc.com.
1 REALTOR® is a trademark identifying real estate
licensees in Canada who are
members of the Canadian Real Estate Association.
SOURCE Brookfield Real Estate Services Inc.
Copyright 2013 Canada NewsWire
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