CALGARY, AB, June 3, 2021 / PRNewswire / – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL) (NYSE: PBA) today announced that its board of directors has declared a cash dividend on common stock for June 2021 of $ 0.21 per share payable, subject to applicable law, on July 15, 2021 to shareholders of record on June 25, 2021. This dividend is referred to as an “eligible dividend” for Canadian income tax purposes. For non-resident shareholders, dividends from Pembina common shares should be considered “eligible dividends” and may be subject to Canadian withholding tax.
For shareholders receiving their common stock dividends in U.S. funds, the June 2021 the cash dividend should be around US $ 0.1742 per share (before deduction of any applicable Canadian withholding tax) based on an exchange rate of 0.8297. The actual dividend in US dollars will depend on the exchange rate between the Canadian dollar and the US dollar on the payment date and will be subject to applicable withholding taxes.
Registration confirmation and payment date policy
Pembina pays monthly cash dividends on its Canadian dollar common shares to shareholders of record on the 25the calendar day of each month (except for the recording date of December, which is the 31st of Decemberst), if, as and when determined by the board of directors. If the registration date falls on a weekend or statutory holiday, the effective registration date will be the previous business day. The dividend payment date is the 15the calendar day of the month following the recording date. If the payment date falls on a weekend or statutory holiday, the business day preceding the weekend or statutory holiday becomes the payment date.
Pembina is a leading provider of transportation and intermediary services serving North America energy sector for over 65 years. Pembina has an integrated network of pipelines that transport a variety of liquid hydrocarbons and natural gas products produced primarily in the west Canada. The Company also has gas collection and treatment facilities; an oil and gas liquids infrastructure and logistics activity; and develop an export terminal business. Pembina’s integrated assets and business operations along most of the hydrocarbon value chain enable it to provide a full range of intermediary and marketing services to the energy industry. 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 help ensure that hydrocarbons produced in the Western Canada Sedimentary Basin and other basins in which Pembina operates can reach higher value markets around the world.
To be the leader in providing integrated infrastructure solutions connecting global markets:
- Customers choose us first for reliable and value-added services;
- Investors receive sustainable total returns among the best in the industry;
- Employees say that 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: the Pipelines division, the Facilities division and the Marketing & New Ventures division.
Pembina common stock is traded on the Toronto and new York scholarships under PPL and PBA, respectively. For more information visit www.pembina.com.
Forward-looking information and statements
This press 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 press release, these forward-looking statements may be identified by words such as “should”, “could”, “will”, “continue”, “if”, “be”, “expect” and expressions events future or future performance.
In particular, this press release contains forward-looking statements regarding future dividends that may be declared on Pembina common shares, the timing and amount of dividend payments and their tax treatment. These forward-looking statements are made by Pembina based on certain assumptions that Pembina has made with respect to them as of the date of this press release, concerning, among other things: the ability of Pembina and any required third parties to engage effectively with stakeholders; levels of exploration and development activity in the oil and gas industry; the success of Pembina’s operations and growth plans; commodity prices, margins, volumes and prevailing exchange rates; that Pembina’s future operating results will be in line with past performance and management’s expectations in this regard; the continued availability of capital at attractive prices to fund future capital needs related to existing assets and projects, including, but not limited to, future capital expenditures related to expansion, upgrades and maintenance shutdowns; that any third party projects related to Pembina’s growth projects will be sanctioned and completed as scheduled; that all required trade agreements can be concluded; that all required regulatory and environmental approvals can be obtained under the necessary conditions and in a timely manner; that the counterparties to significant agreements will continue to act in a timely manner; that no unforeseen event prevents the execution of contracts; that there are no construction, integrity or other unforeseen costs associated with ongoing growth projects or ongoing operations; prevailing interest rate and tax rate; and the amount of future liabilities related to lawsuits and environmental incidents and the availability of coverage under Pembina’s insurance policies (including with respect to Pembina’s business interruption insurance policy).
Although Pembina believes that the expectations and important factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that such 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, forecast or projected. By their nature, forward-looking statements involve many assumptions, known and unknown risks, and uncertainties that contribute to the possibility that predictions, forecasts, projections and other forward-looking statements will not occur, which may result in actual performance and financial results in future periods differ materially from 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: environment and regulatory decisions and Aboriginal and landowner consultation requirements; the impact of competitive entities and prices; shortage of manpower and equipment; the strength and operations of the oil and natural gas production industry and related commodity prices; breach or default of counterparties to agreements that Pembina or one or more of its affiliates have entered into in the course of its business; , integration problems or others; the impact of competitive entities and prices; the use of key industry partners, alliances and agreements; the strength and operations of the oil and natural gas production industry and related commodity prices; actions of government or regulatory authorities, including changes in tax laws and treatments, changes in royalty rates, climate change initiatives or policies or increased environmental regulation; unfavorable general economic and market conditions in Canada, North America and worldwide, including changes or prolonged weaknesses, as appropriate, in interest rates, exchange rates, commodity prices, supply / demand trends and levels of overall industry activity; risks associated with generalized epidemics or pandemic outbreaks, including risks associated with the ongoing COVID-19 pandemic; changes in credit scores; counterparty credit risk; technology and cybersecurity risks; natural disaster; and certain other risks detailed from time to time in Pembina’s public information documents, including, but not limited to, those detailed under the heading “Risk Factors” in Pembina’s MD&A and Annual Information Form, each for the ‘exercise completed December 31, 2020, each one that can be found at www.sedar.com and with the United States Securities and Exchange Commission at www.sec.gov and available on the Pembina website at www.pembina.com.
Forward-looking statements are expressly qualified by the above statements and speak only as of the date of this document. Pembina assumes no obligation to publicly update or revise any forward-looking statements contained herein, except as required by applicable law.
SOURCE Pembina Pipeline Corporation