Pembina Pipeline Corporation (Pembina) has announced that its Board of Directors declared a common share cash dividend for August 2015 of CAN$0.1525 per share to be paid, subject to applicable law, on 15 September 2015 to shareholders of record on 25 August 2015.
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 August 2015 cash dividend is expected to be approximately US$0.1163 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7629. The actual US$ dividend will depend on the CAN$/US$ 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 CAN$ 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.
Edited from various sources by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/10082015/pembina-declares-august-common-share-dividend/