Pembina Pipeline Corp. (Pembina) has declared a common share cash dividend for March of CAN$0.16 per share to be paid, subject to applicable law, on 15 April to shareholders of record on 25 March. 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 dividend is expected to be approximately US$0.1194 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7460. 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.
The company also announced that its board of directors has, until further notice, suspended its Premium DividendTM and Dividend Reinvestment Plan (DRIP), effective 25 April. Accordingly, the March dividend will be the last dividend to be reinvested through the DRIP and dividends starting in respect of the April dividend, payable on 15 May to shareholders of record on 25 April will not be reinvested through the DRIP.
Shareholders who were enrolled in the programme will automatically receive dividend payments in cash form. If Pembina elects to reinstate the DRIP in the future, shareholders that were enrolled in the DRIP at suspension and remained enrolled at reinstatement will automatically resume participation in the DRIP.
Read the article online at: https://www.worldpipelines.com/business-news/09032017/pembina-declares-its-march-common-share-dividend/