Pembina Pipeline Corporation (Pembina) has recently announced that its board of directors declared a common share cash dividend of CAN$0.16 per share for December 2016. Subject to applicable law, the amount is to be paid on 15 January 2017 to shareholders of record on 31 December 2016.
This dividend is designated an ‘eligible dividend’ 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.
For shareholders receiving their common share dividends in US funds, the December 2016 cash dividend is expected to be approximately US$0.1205 per share before deduction of any applicable Canadian withholding tax. This is based on a currency exchange rate of 0.7530. Notably, the actual US dollar dividend will depend on the Canadian/US dollar exchange rate on the payment date.
Pembina pays cash dividends on its common shares in Canadian dollars on a monthly basis to its shareholder that are on record on the 25th day of each month (except for the December record date, which is 31 December).
Read the article online at: https://www.worldpipelines.com/business-news/07122016/pembina-pipeline-corp-declares-divided/