CALGARY, April 12, 2012 /PRNewswire/ - The Board of
Directors of Pembina Pipeline Corporation ("Pembina" or the
"Company") (TSX: PPL) (NYSE: PBA) has declared an April 2012 cash dividend of $0.135 per share to be paid, subject to
applicable law, on May 15, 2012 to
shareholders of record on April 25,
2012. This dividend is designated an "eligible dividend" for
Canadian income tax purposes. For non-resident shareholders,
Pembina's dividends are considered "qualified dividends" and are
subject to Canadian withholding tax.
As previously announced, Pembina has increased
its monthly dividend rate from $0.13
per share per month ($1.56
annualized) to $0.135 per share per
month ($1.62 annualized),
representing a 3.8 percent increase and reflecting management's
confidence in the significant operational and financial strength of
the Company going forward.
For shareholders receiving their dividends in
U.S. funds, the April 2012 cash
dividend will be approximately U.S.$0.1343 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.995. 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.
About Pembina
With nearly 60 years experience, Calgary-based Pembina Pipeline Corporation is
a well-managed and responsible transportation and service provider
to North America's energy
industry. Pembina owns and operates pipelines that transport crude
oil, natural gas liquids, diluent and diluted bitumen produced in
western Canada, offers a full
spectrum of midstream and marketing services and has a strong
presence in the gas services sector. Pembina also owns and manages
a natural gas liquids infrastructure and logistics business, with
facilities strategically located in western Canada and in the premium natural gas liquids
markets in eastern Canada and the
U.S. Pembina provides monthly cash dividends to its shareholders.
Pembina's common shares and convertible debentures are traded on
the Toronto Stock Exchange under the symbols PPL and PPL.DB.C,
PPL.DB.E and PPL.DB.F respectively. Pembina's common shares are
traded on the New York Stock Exchange under the symbol PBA.
All dollar values are in Canadian dollars
unless otherwise stated.
SOURCE Pembina Pipeline Corporation