CALGARY, March 9, 2018 /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 March 2018 of $0.18 per share to be paid, subject to
applicable law, on April 15, 2018 to shareholders of record on March 25,
2018. 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 March 2018 cash
dividend is expected to be approximately U.S. $0.1392 per share (before deduction of any applicable
Canadian withholding tax) based on a currency exchange rate of 0.7736. 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.
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.
Closing of Term Loan and Credit Facility Extension
Pembina has closed its previously announced $1 billion non-revolving term loan ("Term Loan")
with certain existing lenders. The Term Loan will be used to partially repay existing amounts drawn under Pembina's $2.5 billion revolving credit facility, thereby providing additional liquidity, flexibility and interest cost
savings. The Term Loan will have an initial term of three years and is pre-payable at the Company's option. The other terms and
conditions of the Term Loan, including financial covenants, are substantially similar to Pembina's $2.5
billion revolving credit facility. Concurrently, Pembina also completed an extension of its $2.5
billion revolving credit facility, which now matures May 31, 2023.
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
an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in
western Canada. The Company also owns 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. Pembina's preferred shares also trade
on the Toronto stock exchange. 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 preferred 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, growth projects and the integration of acquisitions; 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, 2017, 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
View original content: http://www.newswire.ca/en/releases/archive/March2018/09/c5322.html