CALGARY, AB, Jan. 6, 2022 /PRNewswire/ -- 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 January 2022
of $0.21 per share to be paid,
subject to applicable law, on February 15,
2022 to shareholders of record on January 25, 2022. 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 January 2022 cash dividend
is expected to be approximately U.S. $0.1651 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.7863. 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 March 1,
2022 to shareholders of record on February 1, 2022. Series 15, 17 and 19 preferred
share dividends are payable on March 31,
2022 to shareholders of record on March 15, 2022. Series 23 and 25 preferred share
dividends are payable on February 15,
2022 to shareholders of record on January 31, 2022.
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 Fourth Quarter 2021
Results
Pembina will release its fourth quarter 2021 results on
Thursday, February 24, 2022 after
markets close. A conference call and webcast have been scheduled
for Friday, February 25, 2022, 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 647-792-1240 or
800-437-2398. A recording of the conference call will be available
for replay until March 4, 2022 at
11:59 p.m. ET. To access the replay,
please dial either 647-436-0148 or 888-203-1112 and enter the
password 8107708.
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=1501576&tp_key=bab2a068be 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 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 and preferred shares; the timing and the
amount of such dividend payments; and the expected tax treatment
thereof; and the timing for the release of Pembina's fourth quarter
2021 results. 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.
Investor Relations, Scott Arnold, (403) 231-3156,
1-855-880-7404, e-mail:
investor-relations@pembina.com, www.pembina.com