UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2021
Commission File Number: 001-35563
PEMBINA PIPELINE CORPORATION
(Name of registrant)
(Room #39-095) 4000, 585 8th Avenue S.W.
Calgary, Alberta T2P 1G1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
PEMBINA PIPELINE CORPORATION |
|
|
|
|
|
|
|
|
|
|
|
Date: October 5, 2021 |
By: |
/s/ Scott Burrows |
|
|
|
Name: Scott Burrows |
|
|
|
Title: Senior Vice President and Chief Financial Officer |
|
|
|
|
Form
6-K Exhibit Index
Exhibit 99.1
Pembina Pipeline Corporation Declares October
2021 Common Share Dividend, Quarterly Preferred Share Dividends and Announces Third Quarter 2021 Results Conference Call and Webcast
CALGARY, AB, Oct. 5, 2021 /CNW/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) announced today that its Board of Directors has declared
a common share cash dividend for October 2021 of $0.21 per share to be paid, subject to applicable law, on November 15, 2021 to shareholders
of record on October 25, 2021. The common share dividends are designated "eligible dividends" for Canadian income tax purposes.
For non-resident shareholders, Pembina's common share dividends should be considered "qualified dividends" and may be subject
to Canadian withholding tax.
For shareholders receiving their common share dividends
in U.S. funds, the October 2021 cash dividend is expected to be approximately U.S. $0.1669 per share (before deduction of any applicable
Canadian withholding tax) based on a currency exchange rate of 0.7947. The actual U.S. dollar dividend will depend on the Canadian/U.S.
dollar exchange rate on the payment date and will be subject to applicable withholding taxes.
Pembina's Board of Directors also declared quarterly
dividends for the Company's preferred shares, Series 1, 3, 5, 7, 9, 15, 17, 19, 21, 23 and 25. Series 1, 3, 5, 7, 9 and 21 preferred share
dividends are payable on December 1, 2021 to shareholders of record on November 1, 2021. Series 15, 17 and 19 preferred share dividends
are payable on December 31, 2021 to shareholders of record on December 15, 2021. Series 23 and 25 preferred share dividends are payable
on November 15, 2021 to shareholders of record on November 1, 2021.
Series |
Dividend Amount |
Preferred Shares, Series 1 (PPL.PR.A) |
$0.306625 |
Preferred Shares, Series 3 (PPL.PR.C) |
$0.279875 |
Preferred Shares, Series 5 (PPL.PR.E) |
$0.285813 |
Preferred Shares, Series 7 (PPL.PR.G) |
$0.273750 |
Preferred Shares, Series 9 (PPL.PR.I) |
$0.268875 |
Preferred Shares, Series 15 (PPL.PR.O) |
$0.279000 |
Preferred Shares, Series 17 (PPL.PR.Q) |
$0.301313 |
Preferred Shares, Series 19 (PPL.PR.S) |
$0.292750 |
Preferred Shares, Series 21 (PPL.PF.A) |
$0.306250 |
Preferred Shares, Series 23 (PPL.PF.C) |
$0.328125 |
Preferred Shares, Series 25 (PPL.PF.E) |
$0.325000 |
Confirmation of Record and Payment Date Policy
Pembina pays cash dividends on its common shares in
Canadian dollars on a monthly basis to shareholders of record on the 25th calendar day of each month (except for the December
record date, which is December 31st), if, as and when determined by the Board of Directors. Should the record date fall on
a weekend or a statutory holiday, the effective record date will be the previous business day. The dividend payment date is the 15th
calendar day of the month following the record date. Should the payment date fall on a weekend or on a statutory holiday, the business
day prior to the weekend or statutory holiday becomes the payment date.
Dividends on the preferred shares Series 1, 3, 5,
7, 9 and 21 are payable on the first calendar day of March, June, September and December in each year, if, as and when declared by the
Board of Directors to shareholders of record on the first calendar day of the preceding month, or, if such payment or record date is not
a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 15,
17 and 19 are payable on the last calendar day of March, June, September and December in each year, if, as and when declared by the Board
of Directors to shareholders of record on the 15th calendar day of the same month, or, if such payment or record date is not
a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 23 and
25 are payable on the 15th day of February, May, August and November in each year, if, as and when declared by the Board of
Directors to shareholders of record on the last business day of the preceding month, or, if such payment or record date is not a business
day, the next succeeding business day after the weekend or statutory holiday.
Conference Call and Webcast Details for Third Quarter
2021 Results
Pembina will release its third quarter 2021 results
on Thursday, November 4, 2021 after markets close. A conference call and webcast have been scheduled for Friday, November 5, 2021, at
8:00 a.m. MT (10:00 a.m. ET) for interested investors, analysts, brokers and media representatives.
The conference call dial-in numbers for Canada and
the U.S. are 647-436-0148 or 888-203-1112. A recording of the conference call will be available for replay until November 12, 2021 at
11:59 p.m. ET. To access the replay, please dial either 647-792-1238 or 800-489-9828 and enter the password 9073529.
A live webcast of the conference call can be accessed
on Pembina's website at www.pembina.com under Investor Centre, Presentation & Events, or by entering:
https://produceredition.webcasts.com/starthere.jsp?ei=1354435&tp_key=4504814289 in
your web browser. Shortly after the call, an audio archive will be posted on the website for a minimum of 90 days.
About Pembina
Pembina is a leading transportation and midstream
service provider that has been serving North America's energy industry for more than 65 years. Pembina owns an integrated system of pipelines
that transport various hydrocarbon liquids and natural gas products produced primarily in western Canada. The Company also owns gas gathering
and processing facilities; an oil and natural gas liquids infrastructure and logistics business; and is growing an export terminals business.
Pembina's integrated assets and commercial operations along the majority of the hydrocarbon value chain allow it to offer a full spectrum
of midstream and marketing services to the energy sector. Pembina is committed to identifying additional opportunities to connect hydrocarbon
production to new demand locations through the development of infrastructure that would extend Pembina's service offering even further
along the hydrocarbon value chain. These new developments will contribute to ensuring that hydrocarbons produced in the Western Canadian
Sedimentary Basin and the other basins where Pembina operates can reach the highest value markets throughout the world.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure
solutions connecting global markets:
- Customers
choose us first for reliable and value-added services;
- Investors
receive sustainable industry-leading total returns;
- Employees
say we are the 'employer of choice' and value our safe, respectful, collaborative and fair work culture; and
- Communities welcome us
and recognize the net positive impact of our social and environmental commitment.
Pembina is structured into three Divisions: Pipelines
Division, Facilities Division and Marketing & New Ventures Division.
Pembina's common shares trade on the Toronto and New
York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com.
Forward-Looking Information and Statements
This news release contains certain forward-looking
information and statements (collectively, "forward-looking statements") that are based on Pembina's current expectations, estimates,
projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking
statements can be identified by terminology such as "should", "may", "will", "continue", "if",
"to be", "expects", and similar expressions suggesting future events or future performance.
In particular, this news release contains forward-looking
statements relating to: future dividends which may be declared on Pembina's common shares and preferred shares; the timing and the amount
of the dividend payments and the tax treatment thereof; and the timing for the release of Pembina's third quarter 2021 results. These
forward-looking statements are being made by Pembina based on certain assumptions that Pembina has made in respect thereof as at the date
of this news release, regarding, among other things: the ability of Pembina and any required third parties to effectively engage with
stakeholders; oil and gas industry exploration and development activity levels; the success of Pembina's operations and growth projects;
prevailing commodity prices, margins, volumes and exchange rates; that Pembina's future results of operations will be consistent with
past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future
capital requirements relating to existing assets and projects, including but not limited to future capital expenditures relating to expansion,
upgrades and maintenance shutdowns; that any third party projects relating to Pembina's growth projects will be sanctioned and completed
as expected; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained
on the necessary terms in a timely manner; that counterparties to material agreements will continue to perform in a timely manner; that
there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material construction, integrity
or other costs related to current growth projects or current operations; prevailing interest and tax rates; and the availability of coverage
under Pembina's insurance policies (including in respect of Pembina's business interruption insurance policy).
Although Pembina believes the expectations and
material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance
that these expectations, factors and assumptions will prove to be correct. Readers are cautioned that events or circumstances could cause
actual results to differ materially from those predicted, forecasted or projected. By their nature, forward-looking statements involve
numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections
and other forward-looking statements will not occur, which may cause actual performance and financial results in future periods to differ
materially from any projections of future performance or results expressed or implied by such forward-looking statements. These known
and unknown risks and uncertainties, include, but are not limited to: the regulatory environment and decisions; the ability of Pembina
to raise sufficient capital (or to raise sufficient capital on favourable terms) to fund future expansions and growth projects and satisfy
future commitments; failure to negotiate and conclude any required commercial agreements or failure to obtain project sanctioning; increased
construction costs, or construction delays, on Pembina's expansion and growth projects; labour and material shortages; non-performance
or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business;
the failure to realize the anticipated benefits or synergies of completed acquisitions, integration issues or otherwise; the impact of
competitive entities and pricing; reliance on key industry partners, alliances and agreements; the strength and operations of the oil
and natural gas production industry and related commodity prices; the continuation or completion of third-party projects; actions by governmental
or regulatory authorities including changes in tax laws and treatment, changes in royalty rates, climate change initiatives or policies
or increased environmental regulation; adverse general economic and market conditions in Canada, North America and worldwide, including
changes, or prolonged weaknesses, as applicable, in interest rates, foreign currency exchange rates, commodity prices, supply/demand trends
and overall industry activity levels; risks relating to widespread epidemics or pandemic outbreaks, including risks relating to the duration,
geographic scope and severity of the COVID-19 pandemic; the imposition or, reimposition of, or enhancements to, restrictions to contain
the COVID-19 virus, including restrictions on movement and businesses; the extent to which the COVID-19 pandemic continues to impact the
global economy and cause, directly or indirectly, a decline in commodity prices; the efficacy of actions taken by governmental authorities
to contain the COVID-19 virus, including ongoing vaccination campaigns, and to mitigate or otherwise address its impact; the extent, timing
and sustainability of economic recovery in relation to the COVID-19 pandemic; changes in credit ratings; counterparty credit risk; technology
and cyber security risks; and certain other risks detailed from time to time in Pembina's public disclosure documents including, among
other things, those detailed under the heading "Risk Factors" in Pembina's management's discussion and analysis and annual information
form, each for the year ended December 31, 2020, and Pembina's management's discussion and analysis dated August 5, 2021 for the three
and six months' ended June 30, 2021, which can all be found at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov
and available on Pembina's website at www.pembina.com.
The forward-looking statements are expressly qualified
by the above statements and speak only as of the date of this document. Pembina does not undertake any obligation to publicly update or
revise any forward-looking statements contained herein, except as required by applicable laws.
View original content:https://www.prnewswire.com/news-releases/pembina-pipeline-corporation-declares-october-2021-common-share-dividend-quarterly-preferred-share-dividends-and-announces-third-quarter-2021-results-conference-call-and-webcast-301393500.html
SOURCE Pembina Pipeline Corporation
View original content: http://www.newswire.ca/en/releases/archive/October2021/05/c9177.html
%CIK: 0001546066
For further information: Investor Relations Scott Arnold, (403) 231-3156,
1-855-880-7404, e-mail: investor-relations@pembina.com, www.pembina.com
CO: Pembina Pipeline Corporation
CNW 17:01e 05-OCT-21
This regulatory filing also includes additional resources:
ex991.pdf
Pembina Pipeline (NYSE:PBA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Pembina Pipeline (NYSE:PBA)
Historical Stock Chart
From Sep 2023 to Sep 2024