CALGARY, AB, Aug. 5, 2021 /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 August 2021 of $0.21 per share to be paid, subject to applicable
law, on September 15, 2021 to
shareholders of record on August 25,
2021. This dividend is designated an "eligible dividend" 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 August 2021 cash dividend
is expected to be approximately U.S. $0.1674 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.7971. 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.
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; the timing and the amount of the dividend
payments and the tax treatment thereof; and the timing for release
of the Company's second 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; a resurgence in COVID-19 cases or the
emergence of new variants of the COVID-19 virus, which could result
in the imposition or, reimposition of, or enhancements to,
restrictions to contain the 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.
Investor Relations, Scott Arnold,
(403) 231-3156, 1-855-880-7404, e-mail:
investor-relations@pembina.com, www.pembina.com