Brookfield Renewable Energy Partners (NYSE: BEP) reported Q3 EPS of ($0.44). Revenue for the quarter came in at $867 million versus the consensus estimate of $657 million.

“We had a strong quarter, as we executed on a broad range of transactions that highlight the unique strengths and differentiated value of our business,” said Connor Teskey, CEO of Brookfield Renewable. “Our strategy going forward is unchanged. We remain focused on growing our business, while continuing to deliver on our target of 12-15% long-term returns to equity holders, by leveraging our scale and operational expertise to help governments and businesses around the world transition to a greener future."

Share Split

Brookfield Renewable announced today that the Board of Directors of BEP has approved a three-for-two unit split of BEP’s outstanding units. The split will be implemented by way of a subdivision whereby unitholders will receive an additional one-half of a unit for each unit held (i.e. one additional unit for every two units held).

In conjunction with BEP’s unit split, the Board of Directors of Brookfield Renewable Corporation ("BEPC") has approved a concurrent three-for-two share split of BEPC’s outstanding shares. The BEPC split will also be implemented by way of a subdivision whereby shareholders will receive an additional one-half of a share for each share held.

On December 11, 2020, the additional units/shares required to give effect to the unit/share splits will be issued to holders of record at the close of business on December 7, 2020. Any fractional units/shares to be issued to registered holders as a result of the unit/share splits will be rounded up to the nearest whole unit/share. Brookfield Renewable's preferred units will not be affected by the unit/share splits.

As a result of the three-for-two unit/share splits, BEP and BEPC will adjust their distribution/dividend following the effective date to reflect the additional number of units/shares that will be outstanding. The unit/share splits will not dilute holders’ equity and will not be taxable in Canada or the United States.

For earnings history and earnings-related data on Brookfield Renewable Energy Partners (BEP) click here.