Pembina Pipeline Corporation has announced that its Board of Directors declared a common share cash dividend for April 2016 of CANUS$0.16 per share to be paid, subject to applicable law, on 13 May 2016 to shareholders of record on 25 April 2016. This dividend payment represents the previously announced monthly increase of 4.9% per common share.
For shareholders receiving their common share dividends in US funds, the April 2016 cash dividend is expected to be approximately US$0.1224 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7647. The actual US dollar dividend will depend on the Canadian/US dollar exchange rate on the payment date and will be subject to applicable withholding taxes.
Pembina announced that it has exercised CAN$500 million of the company's accordion feature under its CAN$2 billion revolving unsecured credit facility. This increases the funds available under Pembina's credit facility to CAN$2.5 billion, which is currently undrawn.
Pembina will release its first quarter 2016 results on Thursday, 5 May 2016 after markets close. A conference call and webcast have been scheduled for Friday, 6 May 2016 at 8:00 a.m. MT (10:00 a.m. ET) for interested investors, analysts, brokers and media representatives.
Edited from source by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/07042016/pembina-pipeline-updates/