CALGARY, Jan. 8, 2018 /PRNewswire/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA)
announced today that its Board of Directors declared a common share
cash dividend for January 2018 of
$0.18 per share to be paid, subject
to applicable law, on February 15,
2018 to shareholders of record on January 25, 2018.
For shareholders receiving their common share dividends in U.S.
funds, the January 2018 cash dividend
is expected to be approximately U.S. $0.1451 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.8063. 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, 11, 13,
15, 17 and 19 and expects to declare a dividend on the preferred
shares, Series 21. Series 1, 3, 5, 7, 9, 11, 13 and 21 preferred
share dividends are payable on March 1,
2018 to shareholders of record on February 1, 2018. Series 15, 17 and 19 preferred
share dividends are payable on March 31,
2018 to shareholders of record on March 15, 2018.
Series
|
Dividend
Amount
|
Preferred Shares,
Series 1 (PPL.PR.A)
|
$0.265625
|
Preferred Shares,
Series 3 (PPL.PR.C)
|
$0.293750
|
Preferred Shares,
Series 5 (PPL.PR.E)
|
$0.312500
|
Preferred Shares,
Series 7 (PPL.PR.G)
|
$0.281250
|
Preferred Shares,
Series 9 (PPL.PR.I)
|
$0.296875
|
Preferred Shares,
Series 11 (PPL.PR.K)
|
$0.359375
|
Preferred Shares,
Series 13 (PPL.PR.M)
|
$0.359375
|
Preferred Shares,
Series 15 (PPL.PR.O)
|
$0.279000
|
Preferred Shares,
Series 17 (PPL.PR.Q)
|
$0.312500
|
Preferred Shares,
Series 19 (PPL.PR.S)
|
$0.312500
|
Preferred Shares,
Series 21 (PPL.PF.A)
|
$0.281900
|
These 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.
Dividends on the preferred shares Series 1, 3, 5, 7, 9, 11, 13
and 21 are payable on the first 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 day of the
preceding month, or, if such payment or record date is not a
business day, the last preceding business day prior to the weekend
or holiday. Dividends on the preferred shares Series 15, 17 and 19
are payable on the last 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 fifteenth 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 holiday.
About Pembina
Calgary-based Pembina Pipeline
Corporation is a leading transportation and midstream service
provider that has been serving North
America's energy industry for over 60 years. Pembina owns
and operates an integrated system of pipelines that transport
various products derived from natural gas and hydrocarbon liquids
produced primarily in western Canada. The Company also owns and operates gas
gathering and processing facilities and an oil and natural gas
liquids infrastructure and logistics 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 working with its community and aboriginal neighbours,
while providing value for investors in a safe, environmentally
responsible manner. This balanced approach to operating ensures the
trust Pembina builds among all of its stakeholders is sustainable
over the long-term. 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 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 information and statements can
be identified by terminology such as "should", "may", "will",
"continue", "if", "to be", "expects", and similar
expressions.
In particular, this news release contains forward-looking
statements and information relating to: future dividends which may
be declared on Pembina's preferred shares, the dividend payment and
the tax treatment thereof. 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: oil and gas industry exploration and
development activity levels; the success of Pembina's operations,
growth projects and the integration of acquisitions; 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; the
success of growth projects; future operating costs; 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; and that
there are no unforeseen material construction, integrity or other
costs related to current growth projects or current operations.
These forward-looking statements are not guarantees of future
performance and are subject to a number of known and unknown risks
and uncertainties, including, but not limited to: the regulatory
environment and decisions; non-performance of agreements in
accordance with their terms; 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 or increased environmental regulation;
adverse general economic and market conditions in Canada, North
America and elsewhere; fluctuations in operating results;
construction delays; labour and material shortages; 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 for the year
ended December 31, 2016, which can be
found at www.sedar.com.
Accordingly, readers are cautioned that events or
circumstances could cause results to differ materially from those
predicted, forecasted or projected. Such forward-looking statements
are expressly qualified by the above statements. Pembina does not
undertake any obligation to publicly update or revise any forward
looking statements or information contained herein, except as
required by applicable laws.
SOURCE Pembina Pipeline Corporation