Pembina makes DRIP available to U.S. holders
Pembina makes DRIP available to U.S. holders
2013-04-05 16:53 ET - News Release
Ms. Hayley Nelson reports
PEMBINA PIPELINE CORPORATION ANNOUNCES APRIL 2013 DIVIDEND AND AVAILABILITY OF DIVIDEND REINVESTMENT PLAN TO U.S. SHAREHOLDERS
Pembina Pipeline Corp. has made its dividend reinvestment plan (DRIP) available to United States shareholders effective immediately.
The DRIP provides a convenient and cost-effective way for Pembina shareholders to increase their investment in Pembina without incurring commissions, service charges or similar fees in connection with the purchase of new common shares from treasury (subject to any fees that may be charged by the broker, investment dealer, financial institution or other nominee through which you hold your shares). The new common shares purchased with reinvested dividends will be issued from Pembina's treasury at a 5-per-cent discount to the average market price (calculated under the DRIP). Subject to the policies of the broker, investment dealer, financial institution or other nominee through which the shares are held, full investment of reinvested funds is possible since fractions of shares can be credited to accounts maintained under the plan.
U.S. shareholders are only permitted to participate in the dividend reinvestment component of Pembina's premium dividend and DRIP. Only Canadian resident shareholders are currently permitted to participate in the premium dividend component of the plan.
A copy of the prospectus relating to the DRIP, which has been filed with the U.S. Securities and Exchange Commission as part of a registration statement on Form F-3, may be obtained by contacting investor relations at Pembina at 1-855-880-7404. For information about how to enroll in the DRIP, please contact Computershare Trust Co. of Canada at 1-800-564-6253.
April, 2013, dividend
The board of directors of Pembina has declared an April, 2013, cash dividend of 13.5 cents per share to be paid, subject to applicable law, on May 15, 2013, to shareholders of record on April 25, 2013. This dividend is designated an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pembina's dividends are considered qualified dividends and are subject to Canadian withholding tax.
For shareholders receiving their dividends in U.S. funds, the April, 2013, cash dividend will be approximately 13.3 (U.S.) cents per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.9813. 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 date policy
Pembina pays cash dividends 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 Dec. 31), 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.
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