Brookfield Renewable Partners LP's board of directors approved a 3-for-2 unit split of the partnership's outstanding units.

In conjunction with BEP's unit split, Brookfield Renewable Corp.'s board approved a concurrent 3-for-2 share split of the corporation's outstanding shares.

The unit holders or shareholders will receive an additional one-half of a unit or share for each unit or share held.

On Dec. 11, the additional units/shares required to give effect to the splits will be issued to holders of record Dec. 7.

As a result of the splits, the companies will adjust their distribution or dividend after the effective date to reflect the additional number of units or shares that will be outstanding.

BEP's units and BEPC's shares will start trading with "due bills" on the Toronto Stock Exchange and New York Stock Exchange on Dec. 4 until Dec. 11, inclusively. The units and shares will begin trading on an "ex-dividend" basis on the TSX and NYSE on Dec. 14.

On Nov. 4, BEP reported third-quarter 2020 proportionate adjusted EBITDA of $371 million, compared to $301 million in the prior-year period.

The S&P Capital IQ consensus EBITDA estimate for the third quarter was $378.9 million.

Third-quarter funds from operations totaled $157 million, or 38 cents per unit, compared with $133 million, or 34 cents per unit, in the 2019 third quarter.

Revenues came at $867 million, a decrease from $897 million in the prior-year period.

Brookfield Renewable posted a net loss attributable to unit holders of $162 million, or 44 cents per unit, in the third quarter of 2020, compared to net loss of $58 million, or 18 cents per unit, in the comparable 2019 quarter.