CALGARY, Aug. 2, 2017 /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 2017 of $0.17 per share to be paid, subject to
applicable law, on September 15, 2017 to shareholders of record on August
25, 2017. 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 2017 cash
dividend is expected to be approximately U.S. $0.1358 per share (before deduction of any applicable
Canadian withholding tax) based on a currency exchange rate of 0.7991. 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 majority of the 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 "should", "may", "will",
"continue", "if", "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, 2016, 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
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