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Brookfield Renewable Partners L.P. (BEP.UN)
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Brookfield Renewable Corporation Class A Exchangeable Subordinate Voting Shares (BEPC)
Q: In an earlier question, you responded:
BEPC and BEP.UN are economically equivalent. The only difference is BEPC is a Canadian corporation and its dividend gets the full dividend tax credit.
Trying to understand why, as of noon Wednesday, BEPC is down 1.75 while BEP.UN is down only .75. Why are they moving so far out of tandem?
BEPC and BEP.UN are economically equivalent. The only difference is BEPC is a Canadian corporation and its dividend gets the full dividend tax credit.
Trying to understand why, as of noon Wednesday, BEPC is down 1.75 while BEP.UN is down only .75. Why are they moving so far out of tandem?
5i Research Answer:
We don't see much utility in looking at single day moves, or as noted in the question, half-day moves. For 2023, BEPC is down 6.1% and BEP.UN is down 4.8%. BEPC typically gets a premium because of the dividend tax credit, but this premium bounces around depending on trading liquidity.