HAMILTON, Bermuda - Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN) announced Friday it is increasing its annual distribution to unitholders to US$1.45 per unit.
The move amounts to a quarterly distribution of 36.25 cents per unit, payable on April 30 to all those holding units until the end of the close of the markets on March 31.
The company says this is a seven per cent increase over its units in the last year, and meets its annual target of distribution increases of three to five per cent.
"We are pleased to start the new year with this distribution increase reflecting the accretive investments and numerous strategic and operating enhancements made across our platform in the last year," Richard Legault, president and chief executive officer.
Launched in November 2011, Brookfield Renewable is a combination of Brookfield Renewable Power Fund and the renewable power assets of Brookfield Renewable Power Inc.
The company has a portfolio of 5,300 megawatts of installed capacity, mostly hydro power, in Canada, the United States and Brazil.
Brookfield units were up 21 cents at C$30.13 in the early going Friday on the Toronto Stock Exchange.