CALGARY, AB, March 3, 2022 /PRNewswire/ -- Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA)
announced today that its Board of Directors has declared a common
share cash dividend for March 2022 of
$0.21 per share to be paid, subject
to applicable law, on April 14, 2022
to shareholders of record on March 25, 2022. The common share
dividends are designated "eligible dividends" 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 U.S.
funds, the March 2022 cash dividend
is expected to be approximately U.S. $0.1658 per share (before deduction of any
applicable Canadian withholding tax) based on a currency exchange
rate of 0.7894. The actual U.S. dollar dividend will depend on the
Canadian/U.S. 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.
About Pembina
Pembina Pipeline Corporation is a leading energy transportation
and midstream service provider that has served North America's energy industry for more than
65 years. Pembina owns an integrated network of hydrocarbon liquids
and natural gas pipelines, gas gathering and processing facilities,
oil and natural gas liquids infrastructure and logistics services,
and a growing export terminals business. Through our integrated
value chain, we seek to provide safe and reliable infrastructure
solutions which connect producers and consumers of energy across
the world, support a more sustainable future and benefit our
customers, investors, employees and communities. For more
information, please visit pembina.com.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure
solutions connecting global markets:
- Customers choose us first for reliable and value-added
services;
- Investors receive sustainable industry-leading total
returns;
- Employees say we are the 'employer of choice' and value
our safe, respectful, collaborative and inclusive work culture;
and
- Communities welcome us and recognize the net positive
impact of our social and environmental commitment.
Pembina is structured into three Divisions: Pipelines Division,
Facilities Division and Marketing & New Ventures Division.
Pembina's common shares trade on the Toronto and New
York stock exchanges under PPL and PBA, respectively. For
more information, visit www.pembina.com.
Forward-Looking Information and Statements
This news release contains certain forward-looking
information and statements (collectively, "forward-looking
statements"), including forward-looking statements within the
meaning of the "safe harbor" provisions of applicable securities
legislation, that are based on Pembina's current expectations,
estimates, projections and assumptions in light of its experience
and its perception of historical trends. In some cases,
forward-looking statements can be identified by terminology such as
"continue", "anticipate", "schedule", "will", "expects",
"estimate", "potential", "planned", "future", "outlook",
"strategy", "protect", "trend", "commit", "maintain", "focus",
"ongoing", "believe" and similar expressions suggesting future
events or future performance.
In particular, this news release contains forward-looking
statements relating to: future dividends which may be declared on
Pembina's common shares; the timing and the amount of such dividend
payments; and the expected tax treatment thereof. The
forward-looking statements are based on certain assumptions that
Pembina has made in respect thereof as at the date of this news
release regarding, among other things: the success of Pembina's
operations and growth projects; prevailing commodity prices,
margins, volumes and exchange rates; that Pembina's future results
of operations will be consistent with past performance and
management expectations in relation thereto; the availability of
capital to fund future capital requirements relating to existing
assets and projects; future operating costs; that all required
regulatory and environmental approvals can be obtained on the
necessary terms in a timely manner; prevailing regulatory, tax and
environmental laws and regulations; maintenance of operating
margins; and the availability of coverage under Pembina's insurance
policies (including in respect of Pembina's business interruption
insurance policy).
Although Pembina believes the expectations and material
factors and assumptions reflected in these forward-looking
statements are reasonable as of the date hereof, there can be no
assurance that these expectations, factors and assumptions will
prove to be correct. These forward-looking statements are not
guarantees of future performance and are subject to a number of
known and unknown risks and uncertainties including, but not
limited to: the regulatory environment and decisions; Indigenous
and landowner consultation requirements; the impact of competitive
entities and pricing; reliance on third parties to successfully
operate and maintain certain assets; the strength and operations of
the oil and natural gas production industry and related commodity
prices; non-performance or default by counterparties to agreements
which Pembina or one or more of its affiliates has entered into in
respect of its business; actions by governmental or regulatory
authorities; the ability of Pembina to acquire or develop the
necessary infrastructure in respect of future development projects;
fluctuations in operating results; adverse general economic and
market conditions in Canada,
North America and worldwide; risks
relating to the current and potential adverse impacts of the
COVID-19 pandemic; the ability to access various sources of debt
and equity capital; changes in credit ratings; counterparty credit
risk; and certain other risks and uncertainties detailed in
Pembina's management's discussion and analysis and annual
information form, each for the year ended December 31, 2021, and from time to time in
Pembina's public disclosure documents available at
www.sedar.com, www.sec.gov and through
Pembina's website at www.pembina.com.
This list of risk factors should not be construed as
exhaustive. Readers are cautioned that events or circumstances
could cause actual results to differ materially from those
predicted, forecasted or projected. The forward-looking statements
contained in this news release speak only as of the date hereof.
Pembina does not undertake any obligation to publicly update or
revise any forward-looking statements or information contained
herein, except as required by applicable laws. The forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement.
Investor Relations: Scott Arnold,
(403) 231-3156, 1-855-880-7404, E-mail:
investor-relations@pembina.com, www.pembina.com
