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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: I wanted to respond to Roy's concern that the answer I received from TD Waterhouse was a "load of crap " as I believe it could cause a lot of concern among your members that they are being cheated by their online brokers. The best way to do this is with math - Lets say that in total TD WaterHouse held 101 shares, split with 19 clients holding 5 shares and 1 client holding 6 shares. Their total of 101 would be rounded up to 152 shares in the 3 for 2 split and that would be what TD Waterhouse would receive from BEP. If you look at the clients accounts separately the 19 people would be entitled to 7.5 shares - 7 physical shares and cash for the .5 and the one client with 6 shares would receive 9 shares post split for a total of 19 X 7.5 + 9 = 151.5 share equivalent in compensation..... So if the total number of shares that the broker holds in trust is an odd number they are making at most .5 of a share - not .5 of a share on each client as Roy implied. As well its the only fair way to treat us. I would be upset if I was the guy holding 6 shares as I am getting 9 shares or 1.5X the number of shares post split whereas if the guy holding 5 shares was rounded up from 7.5 to 8 shares he is getting 1.6 X the number of original shares. Nothing looks deceptive or dishonest to me.