BAM Split Corp. (TSX:BNA) Announces 2012 Annual Results

BAM Split Corp. (TSX:BNA) Announces 2012 Annual Results 
TORONTO, ONTARIO -- (Marketwire) -- 12/13/12 -- BAM Split Corp.
(TSX:BNA) announced today that its net asset value per unit was
$65.03 at September 30, 2012. 
Income available for distribution for the year ended September 30,
2012 was $28.4 million compared to $27.0 in the prior year. The
increase in the current year was driven by an increase in dividends
received on the common shares held of Brookfield Asset Management
Inc.   
Net asset value per unit consists of one preferred share and one
capital share. The net asset value per preferred share is posted
monthly on our website at www.bamsplit.com. 
STATEMENTS OF INVESTMENT OPERATIONS AND RETAINED EARNINGS 


 
                                                                            
                                                    Year ended September 30 
                                            --------------------------------
Thousands, except per share amounts                    2012            2011 
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Income                                                                      
  Investment income                               $  28,731       $  27,307 
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Expenses                                                                    
  Operating                                             319             312 
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Income available for distribution                    28,412          26,995 
Dividends paid on senior preferred shares           (26,000)        (24,297)
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Income available for distribution on junior                                 
 preferred and capital shares                         2,412           2,698 
Amortization of share issue costs                    (1,677)         (2,334)
Dividends paid on junior preferred shares            (2,500)              - 
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Income available for distribution to capital                                
 shares                                              (1,765)            364 
Change in unrealized value of investment            261,550          (4,253)
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Results of investment operations                  $ 259,785       $  (3,889)
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Opening retained earnings                         $ 673,828       $ 800,767 
Results of investment operations                    259,785          (3,889)
Dividends paid on capital shares                          -        (123,050)
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Retained earnings, end of year                    $ 933,613       $ 673,828 
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Dividends per senior preferred share                                        
    - Class AA, Series 1                          $  1.2375       $  1.2375 
    - Class AA, Series 3                          $  1.0876       $  1.0876 
    - Class AA, Series 4                          $  1.8125       $  1.8125 
    - Class AA, Series 5                          $  1.2125       $  0.8721 
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BAM Split Corp. owns 53,160,644 Class A Limited Voting Shares
("Brookfield Shares") of Brookfield Asset Management Inc.
("Brookfield") which generate cash flow through dividend payments
that fund quarterly fixed cumulative preferential dividends for the
holders of the Company's preferred shares, and provide the holders of
the Company's capital shares the opportunity to participate in any
capital appreciation of Brookfield Shares.  
Brookfield is a global alternative asset manager with over $150
billion in assets under management and has over a 100-year history of
owning and operating assets with a focus on property, renewable
power, infrastructure and private equity. Brookfield is co-listed on
the New York and Toronto Stock Exchanges under the symbol BAM and
BAM.A, respectively, and on NYSE Euronext under the symbol BAMA.  
Allen G. Taylor, Chief Financial Officer, will be available at (416)
363-9491 to answer any questions on the company's financial results. 
Note: This news release contains "forward-looking information" within
the meaning of Canadian provincial securities laws and regulations.
The words "generate" and "enable" and other expressions which are
predictions of or indicate future events, trends or prospects and
which do not relate to historical matters identify forward-looking
information. Forward-looking information in this news release
includes statements with regard to the generation of cumulative
preferential dividends for the holders of the Company's Senior
Preferred Shares and potential participation by the holders of the
Company's capital shares in the capital appreciation of Brookfield
Shares.  
Although the Company believes that the anticipated future results or
achievements expressed or implied by the forward-looking information
and statements are based upon reasonable assumptions and
expectations, the reader should not place undue reliance on the
forward-looking information and statements because they involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to
differ materially from anticipated future results, performance or
achievement expressed or implied by such forward-looking information
and statements.  
Factors that could cause actual results to differ materially from
those contemplated or implied by the forward-looking information and
statements include: financial performance of the Brookfield Shares
which may result in a decline in value of the investment portfolio
and/or in dividend income from the investment, the behavior of
financial markets, including fluctuations in interest and exchange
rates, availability of equity and debt financing and other risks and
factors detailed from time to time in the Company's other documents
filed with the Canadian securities regulators.  
We caution that the foregoing list of important factors that may
affect future results is not exhaustive. When relying on our
forward-looking information to make decisions with respect to the
Company, investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. Except as may
be required by law, the Company undertakes no obligation to publicly
update or revise any forward-looking information or statements,
whether written or oral, that may be as a result of new information,
future events or otherwise. Reference should be made to the Company's
most recent Annual Information Form for a description of the major
risk factors.
Contacts:
BAM Split Corp.
Allen G. Taylor
Chief Financial Officer
(416) 363-9491
www.bamsplit.com
 
 
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