CALGARY, Aug. 4, 2016 /CNW/ - Pembina Pipeline Corporation
("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that its Board of Directors declared a common share cash
dividend for August 2016 of $0.16 per share to be paid, subject to
applicable law, on September 15, 2016 to shareholders of record on August 25,
2016. 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 U.S. funds, the August 2016 cash
dividend is expected to be approximately U.S. $0.1224 per share (before deduction of any applicable
Canadian withholding tax) based on a currency exchange rate of 0.7651. 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 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.
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 over 60 years. Pembina owns and
operates an integrated system of pipelines that transport various products derived from natural gas and hydrocarbon liquids
produced primarily in western Canada. The Company also owns and operates gas gathering and
processing facilities and an oil and natural gas liquids infrastructure and logistics business. Pembina's integrated assets and
commercial operations along the entire hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing
services to the energy sector. Pembina is committed to working with its community and aboriginal neighbours, while providing value
for investors in a safe, environmentally responsible manner. This balanced approach to operating ensures the trust Pembina builds
among all of its stakeholders is sustainable over the long-term. 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 that are based on Pembina's current
expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this
news release, such forward-looking information and statements can be identified by terminology such as "to be", "expects", and
similar expressions.
In particular, this news release contains forward-looking statements and information relating to: future dividends which may
be declared on Pembina's common shares, the dividend payment and the tax treatment thereof. These forward-looking statements are
being made by Pembina based on certain assumptions that Pembina has made in respect thereof as at the date of this news release,
regarding, among other things: oil and gas industry exploration and development activity levels; 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 continued availability of
capital at attractive prices to fund future capital requirements relating to existing assets and projects, including but not
limited to future capital expenditures relating to expansion, upgrades and maintenance shutdowns; the success of growth projects;
future operating costs; that any third party projects relating to Pembina's growth projects will be sanctioned and completed as
expected; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be
obtained on the necessary terms in a timely manner; that counterparties to material agreements will continue to perform in a timely
manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material
construction, integrity or other costs related to current growth projects or current operations. 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; non-performance of agreements in accordance with their terms; the impact
of competitive entities and pricing; reliance on key industry partners, alliances and agreements; the strength and operations of
the oil and natural gas production industry and related commodity prices; the continuation or completion of third-party projects;
actions by governmental or regulatory authorities including changes in tax laws and treatment, changes in royalty rates or
increased environmental regulation; adverse general economic and market conditions in Canada,
North America and elsewhere; fluctuations in operating results; construction delays; labour and
material shortages; and certain other risks detailed from time to time in Pembina's public disclosure documents including, among
other things, those detailed under the heading "Risk Factors" in Pembina's management's discussion and analysis and annual
information form for the year ended December 31, 2015, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those
predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. 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.
SOURCE Pembina Pipeline Corporation
