CALGARY, Alberta, July 9, 2015 /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 July 2015 of $0.1525 per share to be paid, subject to
applicable law, on August 15, 2015 to
shareholders of record on July 25,
2015.
For shareholders receiving their common share dividends in U.S.
funds, the July 2015 cash dividend is
expected to be approximately U.S. $0.1198 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.7856. 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 quarterly dividends for the Company's preferred
shares, Series 1, 3, 5 and 7, and an initial dividend on the Series
9 Preferred Shares for the period from April
10, 2015 to September 1, 2015.
Future dividends on the Series 9 Preferred Shares are expected to
be $0.296875 quarterly, or
$1.1875 per share on an annualized
basis for the initial fixed rate period to but excluding
December 1, 2020. All preferred share
dividends are payable on September 1,
2015 to shareholders of record on August 1, 2015:
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
|
Preferred Shares, Series 7
(PPL.PR.G)
|
$0.28125
|
Preferred Shares, Series 9
(PPL.PR.I)
|
$0.4685
|
These dividends are designated "eligible dividends" 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.
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 preferred shares
are payable on the 1st day of March, June, September and December
in each year, to shareholders of record on the first day of the
previous month, if, as and when declared by the Board of Directors.
Should the record date or payment date fall on a weekend or a
statutory holiday, the record date or payment date, as applicable,
will be the previous business day.
Second Quarter Conference Call and Webcast
Pembina will release its second
quarter 2015 results on Thursday, August 6,
2015 after markets close. A conference call and webcast have
been scheduled for Friday, August 7,
2015 at 8:00 a.m. MT
(10:00 a.m. ET) for interested
investors, analysts, brokers and media representatives.
The conference call dial-in numbers for Canada and the U.S. are
647-427-7450 or 888-231-8191. A recording
of the conference call will be available for replay until
August 14, 2015 at 11:59 p.m. ET. To access the replay, please dial
either 416-849-0833 or 855-859-2056 and
enter the password 45394754.
A live webcast of the conference call can be accessed on
Pembina's website at
www.pembina.com under Investor Centre, Presentation & Events,
or by entering:
http://event.on24.com/r.htm?e=908220&s=1&k=F8FA38CC83BBCBF2047A6E53490F41EE
in your web browser. Shortly after the call, an audio archive will
be posted on the website for a minimum of 90 days.
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 over 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 and ethane produced in North Dakota. 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.
Forward-Looking Information and Statements
This news release contains certain forward-looking
information and 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 information and statements can be identified by
terminology such as "to be", "expects", and similar
expressions.
In particular, this news release contains forward-looking
statements and information relating to: future dividends which may
be declared on Pembina's common
shares and preferred shares. 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: 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; the success of growth projects; future
operating costs; 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; and that
there are no unforeseen material construction, integrity or other
costs related to current growth projects or current operations.
These forward-looking statements are not guarantees of future
performance and are subject to a number of known and unknown risks
and uncertainties, including, but not limited to: the regulatory
environment and decisions; non-performance of agreements in
accordance with their terms; 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 or increased environmental regulation;
adverse general economic and market conditions in Canada, North
America and elsewhere; fluctuations in operating results;
construction delays; labour and material shortages; 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
for the year ended December 31, 2014,
which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or
circumstances could cause results to differ materially from those
predicted, forecasted or projected. Such forward-looking statements
are expressly qualified by the above statements. Pembina does not undertake any obligation to
publicly update or revise any forward looking statements or
information contained herein, except as required by applicable
laws.
Investor Relations, Chelsy Hoy,
+1 (403) 231-3156, 1-855-880-7404,
e-mail: investor-relations@pembina.com, www.pembina.com