Q: I am hoping you can shed some light on the best way to receive dividends from Brookfield. I have used BAM in my example but I think all their companies work the same way.
The dividends are paid in US dollars. As a Canadian resident but holding the shares on a US exchange, it seems that I will be paid first in Canadian dollars and then the dividends will be converted to $US. That is unless I write my broker and ask for the dividends in US dollars directly. However, if I hold the shares on the TSX, the dividend will still be paid in US dollars and then converted unless I ask the company to pay me in Canadian dollars!
What is not clear is if there are any conversion fees attached to any of these options. What is the best/cheapest /easiest way to receive Brookfield dividends? Can it be done without having to contact either my brokerage or the company?
I tried to ask the company but their response was quite unclear.
Appreciate your insight.
Paul F.
Q: Hi Peter/Ryan, In a TFSA if you could hold only one of theses BAM or BN which one would it be and why. Thanks
Read Answer Asked by Nick on April 12, 2023Q: Hi . If I buy BAM shares on the NYSE, and hold them in my cash account, will I be able to keep the dividends in $US. and benefit from the Canadian dividend tax credit? I am a Canadian citizen and reside in Canada. Thanks. Ben
Read Answer Asked by Ben on April 03, 2023