Brookfield Renewable Announces Intention to Redeem its Series 9 Preferred Units

Rhea-AI Summary

Brookfield Renewable Partners L.P. (NYSE: BEP) announced its intention to redeem all outstanding Class A Preferred Limited Partnership Units, Series 9, for cash on July 31, 2021. The redemption price will be C$25.00 per unit. Holders of record by July 15, 2021 will receive a final quarterly distribution of $0.359375 per Series 9 Preferred Unit. Brookfield Renewable operates a significant portfolio of renewable power assets, totaling approximately 21,000 megawatts of installed capacity and a 27,000 megawatts development pipeline.

Positive

• Redemption of Series 9 Preferred Units indicates strong financial management.
• Final distribution payment of $0.359375 shows commitment to returning value to shareholders.

Negative

• None.

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BROOKFIELD, News, July 02, 2021 (GLOBE NEWSWIRE) -- Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) today announced that it intends to redeem all of its outstanding Class A Preferred Limited Partnership Units, Series 9 (the “Series 9 Preferred Units”) (TSX: BEP.PR.I) for cash on July 31, 2021. The redemption price for each Series 9 Preferred Unit will be C$25.00. Holders of Series 9 Preferred Units of record as of July 15, 2021 will receive the previously declared final quarterly distribution of $0.359375 per Series 9 Preferred Unit.

Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Our portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 21,000 megawatts of installed capacity and an approximately 27,000 megawatts development pipeline. Investors can access our portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation. Further information is available at www.bep.brookfield.com and www.bep.brookfield.com/bepc. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.

Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with over US$600 billion of assets under management.

For more information, please contact:

Media: Claire Holland Senior Vice President, Communications Tel: (416) 369-8236 Email: claire.holland@brookfield.com

Investors: Robin Kooyman Senior Vice President – Investor Relations Tel: (416) 649-8172 Email: robin.kooyman@brookfield.com

FAQ

What are the details of Brookfield Renewable Partners' Series 9 Preferred Unit redemption?

Brookfield Renewable Partners will redeem all Series 9 Preferred Units for C$25.00 each on July 31, 2021, with record holders receiving a final distribution of $0.359375.

When is the redemption date for the preferred units of Brookfield Renewable Partners?

The redemption date for the Series 9 Preferred Units is July 31, 2021.

What is the final distribution amount for Brookfield's Series 9 Preferred Units?

The final distribution amount for the Series 9 Preferred Units is $0.359375.

What is the stock symbol for Brookfield Renewable Partners?

The stock symbol for Brookfield Renewable Partners is BEP.