CALGARY, April 3, 2014 /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 April, 2014, of $0.14 per share to be paid, subject to applicable
law, on May 15, 2014 to shareholders
of record on April 25, 2014.
For shareholders receiving their common share dividends in U.S.
funds, the April 2014 cash dividend
is expected to be approximately U.S. $0.127 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.9069. 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 the following
quarterly dividends for the Company's preferred shares. All
preferred share dividends are payable on June 1, 2014 to shareholders of record on
May 1, 2014:
Preferred Shares, Series 1 (PPL.PR.A) |
$0.265625 |
Preferred Shares, Series 3 (PPL.PR.C) |
$0.29375 |
Preferred Shares, Series 5 (PPL.PR.E) |
$0.3125 |
These dividends are designated "eligible dividends" for Canadian
income tax purposes. For non-resident shareholders, Pembina's
common share dividends are considered "qualified dividends" and may
be subject to Canadian withholding tax.
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. Dividends on the preferred 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 60 years.
Pembina owns and operates pipelines that transport various
hydrocarbon liquids including conventional and synthetic crude oil,
heavy oil and oil sands products, condensate (diluent) and natural
gas liquids produced in western Canada. The Company also owns and operates 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 spans 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