Pembina Pipeline Corporation (Pembina or the Company) announced that its Board of Directors declared a common share cash dividend for May 2020 of US$0.21 per share to be paid, subject to applicable law, on 15 June 2020 to shareholders of record on 25 May 2020. 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 May 2020 cash dividend is expected to be approximately US$0.1487 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7080. 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 December 31st), 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 calendar day of the month following the record date. Should the payment date fall on a weekend or on a statutory holiday, the business day prior to the weekend or statutory holiday becomes the payment date.
Read the article online at: https://www.worldpipelines.com/business-news/11052020/pembina-pipeline-corporation-declares-common-share-dividend/