CALGARY, AB, Dec. 6, 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 December 2021 of
$0.21 per share to be paid, subject
to applicable law, on January 14,
2022 to shareholders of record on December 31, 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 December 2021 cash
dividend is expected to be approximately U.S. $0.1639 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.7803. 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.
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.
2022 Guidance and Business Update Conference Call &
Webcast
Pembina will host a webcast and conference call
on Wednesday, December 8, 2021 at 9:00 a.m.
MT (11:00 a.m. ET) where the
Company's executive team will provide a general business update,
including progress on environmental, social & governance
priorities, and outline the Company's 2022 outlook. Randy Findlay, Chair of Pembina's Board of
Directors will also be joining the call to provide a message from
the Board. The conference call dial-in numbers
for Canada and the U.S. are 647-792-1240 or 800-437-2398.
A recording of the conference call will be available for replay
until December 15, 2021 at 11:59 p.m. ET. To access
the replay, please dial either 647-436-0148 or 888-203-1112 and
enter the password 6464560.
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=1499099&tp_key=9492e908e4
in your web browser. Shortly after the call, the presentation and
an archive of the webcast will be posted on Pembina's website for a
minimum of 90 days at
https://www.pembina.com/investors/presentations-events/.
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 inclusive 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"), including forward-looking statements within the
meaning of the "safe harbor" provisions of applicable securities
legislation, that are based on Pembina's current expectations,
estimates, projections and assumptions in light of its experience
and its perception of historical trends. In some cases,
forward-looking statements can be identified by terminology such as
"continue", "anticipate", "schedule", "will", "expects",
"estimate", "potential", "planned", "future", "outlook",
"strategy", "protect", "trend", "commit", "maintain", "focus",
"ongoing", "believe" 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; the timing and the amount of such dividend
payments; and the expected tax treatment thereof. The
forward-looking statements are based on certain assumptions that
Pembina has made in respect thereof as at the date of this news
release regarding, among other things: 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 availability of
capital to fund future capital requirements relating to existing
assets and projects; future operating costs; that all required
regulatory and environmental approvals can be obtained on the
necessary terms in a timely manner; prevailing regulatory, tax and
environmental laws and regulations; maintenance of operating
margins; 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. 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; Indigenous
and landowner consultation requirements; the impact of competitive
entities and pricing; reliance on third parties to successfully
operate and maintain certain assets; the strength and operations of
the oil and natural gas production industry and related commodity
prices; 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; actions by governmental or regulatory
authorities; the ability of Pembina to acquire or develop the
necessary infrastructure in respect of future development projects;
fluctuations in operating results; adverse general economic and
market conditions in Canada,
North America and worldwide; risks
relating to the current and potential adverse impacts of the
COVID-19 pandemic; the ability to access various sources of debt
and equity capital; changes in credit ratings; counterparty credit
risk; and certain other risks and uncertainties detailed in
Pembina's restated management's discussion and analysis and
restated annual information form, each for the year ended
December 31, 2020 and filed on
November 18, 2021, and from time to time in Pembina's
public disclosure documents available at
www.sedar.com, www.sec.gov and through
Pembina's website at www.pembina.com.
This list of risk factors should not be construed as
exhaustive. Readers are cautioned that events or circumstances
could cause actual results to differ materially from those
predicted, forecasted or projected. The forward-looking statements
contained in this news release speak only as of the date hereof.
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. The forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement.
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SOURCE Pembina Pipeline Corporation