Brookfield dividend: payout, coverage and yield
Brookfield pays a small dividend, and its recurring parent-level earnings are available for dividends or reinvestment. The cash allocation also includes buybacks and capital kept for growth.
How much does Brookfield pay in dividends?
The small dividend means shareholders mainly depend on retained capital becoming higher cash earnings per share.
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Operating earnings (company's measure) | 5,386 | 4,871 | 4,223 | 3,825 |
| EPS, diluted | 0.49 | 0.20 | 0.41 | |
| Dividend per share | 0.24 | 0.21 | 0.19 |
Is Brookfield's dividend covered by its cash?
Brookfield has generally kept most of its recurring parent-level earnings for growth, while using buybacks to increase each remaining shareholder’s ownership. Its “distributable earnings before realizations” is a management-defined measure of recurring earnings available for dividends or reinvestment. It excludes realized investment-sale gains and realized performance fees, so it is not simply cash sitting in a bank account.
Buybacks are another use of capital. They can raise each remaining share’s claim on the business, but they do not by themselves prove that the businesses improved. Comparable earnings before realizations per share rose from US$1.22 in 2021 to US$2.27 in 2025. The result is encouraging, though the separate effects of acquisitions, operating improvement, financing and repurchases are not fully visible.
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Operating earnings (company's measure) | 5,386 | 4,871 | 4,223 | 3,825 |
| − Dividends paid | 552 | 495 | 436 | |
| − Share buybacks | 1,009 | 1,001 | 624 | |
| = Kept to grow and build capital | 3,825 | 3,375 | 3,163 | |
| Paid out, % of operating earnings | 29.0% | 30.7% | 25.1% |
What could change Brookfield's dividend?
Base dividends are $0.30 in 2027 and $0.32 in 2028. They reach $0.34 in 2029. The bear holds the annualized payout at $0.28, while the bull reaches $0.31, $0.34 and $0.36. The base follows management’s 7% growth assumption and the record of regular increases from 2023 through 2025.
The forecast would move toward the bear case if 2027–2029 exits are delayed or priced below carrying values. That would restrain realized carry, net income and EPS, while weak property values and refinancing costs would pressure operating earnings and the multiple.
What is Brookfield's dividend yield at today's price?
| Today (Oct 11, 2026) | |
|---|---|
| Share price | 52.95 |
| Price to book (calculated) | 2.0x |
| P/E on operating earnings, last 12 months (calculated) | 15.6x |
| Dividend yield (calculated) | 0.8% |