Pembina Pipeline Corporation (Pembina) has recently announced that its board of directors has declared a common share cash dividend for September 2016 of CAN$0.16 per share. This is set to be paid to shareholders on record on 25 September, subject to applicable law, on 15 October.
The dividend is designated an ‘eligible dividend’ for Canadian income tax purposes. For nonresident 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 September 2016 cash dividend is expected to be approximately US$0.1240 per share – before deduction of any applicable Canadian withholding tax – based on an exchange rate of 0.7752. 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.
Adapted from press release by Anna Nicklin
Read the article online at: https://www.worldpipelines.com/business-news/09092016/pembina-declares-common-share-dividend-for-september-2016/