CALGARY, May 13, 2013 /PRNewswire/ - Pembina Pipeline Corporation ("Pembina" or
the "Company") (TSX: PPL; NYSE: PBA) reported the voting results from
its Annual and Special Meeting of shareholders held May 10, 2013 in
Calgary, Alberta (the "Meeting"). Each of the matters voted upon at the
Meeting is discussed in detail in the Company's Management Information
Circular dated March 28, 2013 and is available on the Company's website
under "Investor Centre" at www.pembina.com.
A total of 163,446,443 common shares representing 53.24 percent of the
Company's issued and outstanding shares were voted in person and by
proxy in connection with the meeting. The voting results for each
matter presented at the annual meeting are provided below:
1. Election of Directors
The following nine nominees were appointed as directors of Pembina to
serve until the next annual meeting of shareholders of the Company, or
until their successors are elected or appointed:
|
Nominee
|
Percentage of Votes in Favour
|
|
Grant D. Billing
|
98.92
|
|
Thomas W. Buchanan
|
82.94
|
|
Allan L. Edgeworth
|
99.40
|
|
Randall J. Findlay
|
98.40
|
|
Lorne B. Gordon
|
97.07
|
|
David M.B. LeGresley
|
99.34
|
|
Robert B. Michaleski
|
99.23
|
|
Leslie A. O'Donoghue
|
98.96
|
|
Jeffrey T. Smith
|
98.96
|
2. Appointment of Auditors
The appointment of KPMG LLP, Chartered Accountants, to serve as the
auditors of the Company until the close of the next annual meeting, at
remuneration to be fixed by the directors on the recommendation of the
Audit Committee, was approved by show of hands.
3. Acceptance of Company's Approach to Executive Compensation
On an advisory basis and not to diminish the role and responsibility of
the board of directors, the approach to executive compensation
disclosed in Pembina's Management Information Circular was approved
with 96.45 percent of votes cast in favour.
4. Authorize an Amendment to Pembina's Articles to Create New Class of
Preferred Shares
A special resolution authorizing an amendment to Pembina's articles to
create a new class of preferred shares designated as "Class A Preferred
Shares" was approved with 93.98 percent of votes cast in favour.
5. Authorize an Amendment to Pembina's Articles with Respect to Internal
Preferred Shares
A special resolution authorizing an amendment to Pembina's articles to
change the designation and terms of its existing internal preferred
shares was approved with 94.22 percent of votes cast in favour.
6. Authorize an Amendment to Pembina's Articles to Increase Maximum Number
of Directors
An amendment to the Company's articles to increase the maximum number of
directors of Pembina from 11 to 13 was approved with 96.99 percent of
votes cast in favour.
7. Continuation and Approval of Shareholder Rights Plan
The continuing, and amending and restating of Pembina's shareholder
rights plan agreement was approved with 95.95 percent of votes cast in
favour.
Additional details in respect the Meeting's voting results can be found
on Pembina's profile at www.sedar.com and www.sec.gov.
May Dividend
The Board of Directors of Pembina has declared a May 2013 cash dividend
of $0.135 per share to be paid, subject to applicable law, on June 14,
2013 to shareholders of record on May 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 May 2013
cash dividend will be approximately U.S.$0.134 per share (before
deduction of any applicable Canadian withholding tax) based on a
currency exchange rate of 0.9893. 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 December 31st), 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.
About Pembina
Calgary-based Pembina Pipeline Corporation is a leading transportation
and midstream service provider that has been serving North America's
energy industry for nearly 60 years. Pembina owns and operates:
pipelines that transport conventional and synthetic crude oil and
natural gas liquids produced in western Canada; oil sands, heavy oil
and diluent pipelines; gas gathering and processing facilities; and, an
oil and natural gas liquids infrastructure and logistics business. With
facilities strategically located in western Canada and in natural gas
liquids markets in eastern Canada and the U.S., Pembina also offers a
full spectrum of midstream and marketing services that span across its
operations. Pembina's integrated assets and commercial operations
enable it to offer services needed by the energy sector along the
hydrocarbon value chain.
SOURCE Pembina Pipeline Corporation