CALGARY, Jan. 7, 2014 /CNW/ - The Board of Directors of
Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX:
PPL) (NYSE: PBA) has declared a monthly common share cash dividend
for January 2014 of $0.14 per share to be paid, subject to applicable
law, on February 14, 2014 to
shareholders of record on January 25,
2014. Pembina's Board of Directors also declared a quarterly
dividend of $0.265625 per cumulative
redeemable rate reset class A preferred share, series 1 (the
"Series 1 Preferred Shares") and a quarterly dividend of
$0.29375 per cumulative redeemable
rate reset class A preferred share, series 3 (the "Series 3
Preferred Shares") to be paid, subject to applicable law, on
March 1, 2014 to shareholders of
record on February 1, 2014.
All of Pembina's dividends are designated "eligible dividends"
for Canadian income tax purposes. For non-resident shareholders,
Pembina's common share dividends are considered "qualified
dividends" and are subject to Canadian withholding tax.
For shareholders receiving their common share dividends in U.S.
funds, the January 2014 cash dividend
is expected to be approximately U.S.$0.131 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.9382. 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 of the month following the record date. Should the
payment date fall on a weekend or on a holiday the business day
prior to the weekend or holiday becomes the payment date.
Dividends on the Series 1 Preferred Shares and the Series 3
Preferred Shares are payable on the 1st day of March,
June, September and December in each year, if, as and when declared
by the Board of Directors.
About Pembina
Calgary-based Pembina Pipeline
Corporation is a leading transportation and midstream service
provider that has been serving North
America's energy industry for nearly 60 years. Pembina owns
and operates: pipelines that transport conventional and synthetic
crude oil, condensate and natural gas liquids produced in western
Canada; oil sands, heavy oil and
diluent pipelines; gas gathering and processing facilities; and, an
oil and natural gas liquids infrastructure and logistics business.
With facilities strategically located in western Canada and in natural gas liquids markets in
eastern Canada and the U.S.,
Pembina also offers a full spectrum of midstream and marketing
services that span across its operations. Pembina's integrated
assets and commercial operations enable it to offer services needed
by the energy sector along the hydrocarbon value chain.
SOURCE Pembina Pipeline Corporation