Brookfield Renewable announced that the Toronto Stock Exchange has accepted notices for the renewal of its normal course issuer bids for LP Units, Preferred Units of Brookfield Renewable Partners (BEP), and Exchangeable Shares of Brookfield Renewable Corporation (BEPC). This renewal provides flexibility to purchase securities when they are trading below their intrinsic value.
Under BEP's normal course issuer bid for LP Units, the company is authorized to repurchase up to 14,255,578 LP Units, representing 5% of its issued and outstanding units. BEPC is authorized to repurchase up to 8,982,042 Exchangeable Shares, also representing 5% of its issued and outstanding shares.
Repurchases under these bids are authorized to commence on December 18, 2024, and will terminate on December 17, 2025. BEP previously repurchased 2,279,654 LP Units under its prior bid at a weighted average price of approximately CDN$30.86, demonstrating active capital management.
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