Brookfield Renewable Partners L.P. (TSX:BEP.UN)(NYSE:BEP) (“Brookfield Renewable“) reported an increase in quarterly distributions and financial results for the three and 12 months ended December 31, 2016.
“In 2016 we achieved a 20% total return for shareholders, deployed approximately $1 billion of equity into hydro-based growth initiatives, advanced 300 megawatts of construction and development projects, and expanded our reach into new geographies,” said Sachin Shah, CEO of Brookfield Renewable. “Looking ahead, we continue to see a positive investment environment in all our markets with opportunities for growth across each of our business segments.”
“We are also pleased to announce that the board has declared an increase in our dividend. In light of the significant potential growth ahead of us, we are increasing the dividend by 5% this year and will assess our dividend rate throughout the year based on the success of some of our near-term growth initiatives,” added Mr. Shah.
The next quarterly distribution in the amount of $0.4675 per LP Unit, is payable on March 31, 2017 to unitholders of record as at the close of business on February 28, 2017. This represents an increase of 5% over the prior quarterly distribution of $0.445. Brookfield Renewable targets a sustainable distribution with increases targeted on average at 5% to 9% annually.
Source: Brookfield Renewable