HAMILTON, BERMUDA -- (Marketwire) -- 01/18/13 -- All amounts in U.S. dollars unless stated otherwise
Brookfield Renewable Energy Partners L.P. (TSX: BEP.UN) ("Brookfield Renewable") today announced that the Board of Directors has declared a quarterly distribution of 36.25 cents per unit payable on April 30, 2013 to unitholders of record as at the close of business on March 31, 2013. This reflects an annualized distribution of $1.45 per unit.
"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," said Richard Legault, President and CEO of Brookfield Renewable.
This increase is consistent with Brookfield Renewable targeting a sustainable distribution in the range of 60% to 70% of funds from operations and targeting distribution increases of 3% to 5% annually.
Distribution Reinvestment Plan
Brookfield Renewable maintains a Distribution Reinvestment Plan ("DRIP") which allows holders of its limited partnership units who are resident in Canada to acquire additional units by reinvesting all or a portion of their cash distributions without paying commissions. Information on the DRIP, including details on how to enroll, is available on Brookfield Renewable's website at www.brookfieldrenewable.com/DRIP.
Brookfield Renewable Energy Partners (TSX: BEP.UN) operates one of the largest publicly-traded, pure-play renewable power platforms globally. Its portfolio is primarily hydroelectric and totals approximately 5,300 megawatts of installed capacity. Diversified across 69 river systems and 11 power markets in the United States, Canada and Brazil, the portfolio generates enough electricity from renewable resources to power more than two million homes on average each year. With a virtually fully-contracted portfolio of high-quality assets and strong growth prospects, the business is positioned to generate stable, long-term cash flows supporting regular and growing cash distributions to shareholders. For more information, please visit www.brookfieldrenewable.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and information, within the meaning of Canadian securities laws, concerning the business and operations of Brookfield Renewable. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements in this news release include statements regarding the increase in Brookfield Renewable's distribution, the anticipated benefit of recent investments and ongoing strategic initiatives on its financial position, capital structure and cash flows, and the progress of its growth and development plans. Forward-looking statements can be identified by the use of words such as "expected", "benefit", and "progress" or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information in this news release are based upon reasonable assumptions and expectations, we cannot assure you that such expectations will prove to have been correct. You should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.