CALGARY, Alberta, Jan. 12, 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 January 2015 of
$0.145 per share to be paid, subject
to applicable law, on February 13,
2015 to shareholders of record on January 25, 2015.
For shareholders receiving their common share dividends in U.S.
funds, the January 2015 cash dividend
is expected to be approximately U.S. $0.1228 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.8466. 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
on the Company's preferred shares: Series 1, 3, 5 and 7. All
preferred share dividends are payable on March 1, 2015 to shareholders of record on
February 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
|
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.
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, if, as and when declared by the Board of
Directors. Again, 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.
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.
For further information:
Investor Relations
Hayley McKenzie
(403) 231-3156
1-855-880-7404
e-mail: investor-relations@pembina.com
www.pembina.com