Brookfield Renewable Announces Record Date for Unit Split of Brookfield Renewable Corporation - Seite 2
BEP unitholders will receive a cash payment in lieu of any fractional interests in a Share. Brookfield Renewable will use the five-day volume-weighted average trading price of the Shares immediately following the special distribution to determine the value of any fractional interests in a Share.
Holders of the Shares will be entitled to dividends as and when they are declared by the Board of Directors of BEPC. It is anticipated that BEPC’s dividend policy will be to declare and pay dividends on the Shares at the same time and in the same amount per Share as distributions are declared and paid on a BEP unit. This dividend policy has been set to provide holders of the Shares with an economic return equivalent to holders of BEP units. Regarding distributions on the BEP units and dividends on the Shares, BEP unitholders and holders of the Shares should note the following:
- Following completion of the special distribution and subject to Board approval, the regular quarterly distribution received on BEP units and Shares going forward will be $0.4340 per BEP
unit/Share. As a result, the aggregate distribution received by a holder on its BEP units and Shares (assuming the securities are retained) will be the same as the holder would have received if the
special distribution had not occurred
- BEPC anticipates that its first quarterly dividend of $0.4340 will be paid on September 30, 2020 to holders of record as of August 31, 2020, subject to Board approval
Lesen Sie auch
The NYSE and the TSX will both implement “when-issued” and “due bill” trading commencing July 24, 2020 and ending at the close of business on July 29, 2020. During this time period, these designations will impact how our securities trade on both exchanges. Investors should be aware of the following features:
- Trades in “BEP” and “BEP.UN” on the NYSE and TSX, respectively, will include BEP units and the entitlement to receive the Shares on July 30, 2020 (i.e., should trade on a pre-split basis)
- Trades in “BEPC WI” and “BEPC” on the NYSE and TSX, respectively, will include only the entitlement to receive the Shares (i.e., should trade on a split-adjusted basis), allowing a holder to buy and sell Shares. Accordingly, trades in “BEPC WI” or “BEPC” on or after July 24, 2020 allow a person to trade the entitlement to receive the Shares without trading any BEP units he or she may hold. BEPC expects “when-issued” trades of Shares to settle two (2) business days after completion of the special distribution