Pembina Pipeline Corporation Declares Common Share Dividend
CALGARI, AB,, June 3, 2021 / CNW / – Pembina Pipeline Corporation (“Pembina” or “Company”) (TSX: PPL) (NYSE: PBA) announced today that its board of directors has declared a total cash dividend for shares for June 2021. $ 0.21 per share to be paid, in accordance with applicable law, to July 15, 2021 of shareholders on the record of June 25, 2021. This dividend is defined as an “eligible dividend” for Canadian income tax purposes. For non-resident shareholders, dividends on Pembina’s ordinary shares must be considered “qualified dividends” and may be subject to tax at the source of Canada.
For shareholders receiving dividends with common shares in US funds, June 2021 the cash dividend is expected to be approximately US $ 0.1742 per share (before deducting the applicable Canadian withholding tax) based on the exchange rate of 0.8297. The actual dividend in US dollars will depend on the Canadian / US dollar exchange rate at the date of payment and will be subject to applicable withholding taxes.
Confirmation of the rules for registration and date of payment
Pembina pays monthly dividends from its ordinary Canadian dollar shares monthly to shareholders registered at 25you calendar day of each month (except for the record date in December, which is December 31st), if and when determined by the Board of Directors. If the registration date falls on a weekend or statutory holiday, the effective date will be the previous business day. The dividend payment date is 15you calendar day of the month following the record date. If the date of payment falls on a weekend or a statutory holiday, the working day before the weekend or statutory holiday becomes the date of payment.
Pembina is a leading transport and intermediate service provider North America energy industry for more than 65 years. Pembina has an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products, produced mainly in the western part Canada. The company also owns gas collection and processing facilities; business with infrastructure and logistics of liquids for oil and natural gas; and expanding its export terminal business. Pembina’s integrated assets and trading operations across most of the hydrocarbon value chain allow it to offer a full range of medium and marketing services to the energy sector. Pembina is committed to identifying additional opportunities to connect hydrocarbon production with new demand sites through the development of an infrastructure that will expand Pembina’s service offering even further along the hydrocarbon value chain. These new developments will help ensure that hydrocarbons produced in the Western Canadian sedimentary basin and other basins where Pembina operates can reach the highest value markets worldwide.
Purpose of Pembina:
To be a leader in providing integrated infrastructure solutions connecting global markets:
Customers first select us for reliable value-added services;
Investors obtaining industry-leading overall returns;
Employees say that we are the “chosen employer” and value our culture of safe, respectful, collaborative and honest work; and
Communities welcome us and acknowledge the net positive impact of our social and environmental commitment.
Pembina is structured in three departments: the Piping Department, the Facilities Department and the Marketing and New Enterprises Department.
Pembina shares are traded on Toronto and new York stock exchanges under PPL and PBA, respectively. For more information visit www.pembina.com.
Future information and statements
This news release contains certain forward-looking information and statements (“forecast statements” in general), which are based on Pembina’s current expectations, assessments, forecasts and assumptions in the light of its experience and perception of historical trends. In this news release, such forward-looking statements can be identified with terminology such as “should”, “may”, “will”, “continue”, “if”, “be”, “expect” and similar expressions implying future events or future performance.
In particular, this news release contains forward-looking statements relating to future dividends that may be declared on Pembina’s ordinary shares, the timing and amount of dividend payments and tax treatment. These forward-looking statements have been made by Pembina on the basis of certain assumptions made by Pembina in respect of them at the date of this news release, inter alia: the ability of Pembina and all necessary third parties to engage effectively with stakeholders; levels of activity in the research and development of the oil and gas industry; the success of Pembina’s operations and growth projects; prevailing commodity prices, margins, volumes and exchange rates; that the future results of Pembina’s activities will be in line with previous results and management expectations in this regard; the continued availability of capital at attractive prices to finance future capital requirements related to existing assets and projects, including, but not limited to, future capital expenditures related to expansion, modernization and suspension of maintenance; that all third country projects related to Pembina’s growth projects will be sanctioned and completed as expected; that all necessary trade agreements can be reached; that all necessary regulatory and environmental approvals can be obtained in a timely manner under the necessary conditions; that the counterparties to the essential agreements will continue to perform in a timely manner; that there are no unforeseen events hindering the performance of the contracts; that there are no unforeseen material structures, integrity or other costs associated with ongoing growth projects or ongoing operations; prevailing interest and tax rates; and the amount of future liabilities related to litigation and environmental incidents and the availability of coverage under Pembina’s insurance policies (including Pembina’s business interruption insurance policy).
Although Pembina believes that the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the present date, there can be no assurance that these expectations, factors and assumptions will be true. Readers are warned that events or circumstances may lead to significant differences in actual results from those predicted, predicted or predicted. In essence, forward-looking statements include a number of assumptions, known and unknown risks and uncertainties that contribute to the possibility that forecasts, forecasts, forecasts and other forward-looking statements may not occur, which may result in actual results and financial results in future periods. differ materially from any projections of future results 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 and the requirements for consultation with indigenous peoples and landowners; the impact of competing entities and pricing; shortage of labor and material; the strength and operations of oil and natural gas production and related commodity prices; non-performance or non-performance by counterparties of agreements that Pembina or one or more of its subsidiaries have entered into in respect of its activities; , problems with integration or otherwise; the impact of competing entities and pricing; reliance on key industry partners, alliances and agreements; the strength and operations of oil and gas production and related commodity prices; actions by government or regulatory authorities, including changes in tax legislation and treatment, changes in royalty rates, climate change initiatives or policies, or enhanced environmental regulation; unfavorable general economic and market conditions in Canada,, North America and worldwide, including changes or continuing weaknesses, as applicable, in interest rates, foreign exchange rates, commodity prices, supply / demand trends and overall levels of activity in the industry; risks associated with widespread epidemics or outbreaks of a pandemic, including risks associated with the ongoing COVID-19 pandemic; changes in credit ratings; counterparty credit risk; technology and cybersecurity risks; natural disaster; and some other risks detailed from time to time in Pembina’s public disclosure documents, including, inter alia, detailed in the “Risk Factors” heading in the Pembina Management Discussion and Analysis and Annual Information Form, each for the year , finished December 31, 2020, each of which can be found at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov and available on the Pembina 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 undertakes no obligation to publicly update or revise any forward-looking statements contained herein, unless required by applicable law.
SOURCE Pembina Pipeline Corporation
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