Pembina Pipeline Corporation declares common share dividend
Published by Lydia Woellwarth,
Pembina Pipeline Corporation has announced that its Board of Directors declared a common share cash dividend for June 2019 of CAN$0.20 per share to be paid, subject to applicable law, on 15 July 2019 to shareholders of record on 25 June 2019. 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 June 2019 cash dividend is expected to be approximately US$0.1492 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7462. 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.
Confirmation of record and payment date policy
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 31 December), 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.
Calgary-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America's energy industry for over 60 years. Pembina owns an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in western Canada. The Company also owns gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business. Pembina's integrated assets and commercial operations along the majority of the hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to identifying additional opportunities to connect hydrocarbon production to new demand locations through the development of infrastructure that would extend Pembina's service offering even further along the hydrocarbon value chain. These new developments will contribute to ensuring that hydrocarbons produced in the Western Canadian Sedimentary Basin and the other basins where Pembina operates can reach the highest value markets throughout the world.
Read the article online at: https://www.worldpipelines.com/business-news/10062019/pembina-pipeline-corporation-declares-common-share-dividend/
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