Brookfield Renewable's preferred LP units are traded on the Toronto Stock Exchange. Preferred LP unitholders will receive, as part of their distributions, dividends paid by a Canadian corporation. For purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation, such dividends are designated as “eligible dividends” and will be reflected as such on the Canadian tax slip.
1. On February 8, 2016, 2,885,496 shares of Class A Preference Shares, Series 5 were exchanged for Class A Preferred Limited Partnership Units, Series 5.
2. Commencing on January 31, 2021, the distribution rate will be reset every five years at a rate equal to the greater of (i) 5-year Government of Canada bond yield plus 4.47%, and (ii) 5.50%. On this date, the Series 7 Preferred Units may, at the holder’s option, be reclassified to Series 8 Preferred Units, which will pay a floating quarterly distribution rate.
3. Commencing July 31, 2021, the distribution rate will be reset every five years at a rate equal to the greater of (i) the 5-year Government of Canada bond yield plus 5.01%, and (ii) 5.75%. Holders of the Series 9 Preferred Units will have the right, at their option, to reclassify their Series 9 Preferred Units into Cumulative Floating Rate Reset Class A Preferred Limited Partnership Units, Series 10.
* All unit distribution payments are subject to declaration by The Board of Directors of the GP of Brookfield Renewable Energy.
** Please refer to Unit Provisions for further details.
*** If such day is not a business day, the payment date shall be the following business day.
****If the Record Date falls on a non-business day, it will be moved to the preceding business day.