CALGARY, March 6, 2019 /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 2019 of $0.19 per share to be paid, subject to
applicable law, on April 15, 2019 to shareholders of record on March 25,
2019. 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 2019 cash
dividend is expected to be approximately U.S. $0.1424 per share (before deduction of any applicable
Canadian withholding tax) based on a currency exchange rate of 0.7493. 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
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 identifying additional opportunities to connect hydrocarbon production to new demand locations
through the development of infrastructure that would extend Pembina's service offering even further along the hydrocarbon value
chain. These new developments will contribute to ensuring that hydrocarbons produced in the Western Canadian Sedimentary Basin
and the other basins where Pembina operates can reach the highest value markets throughout the world.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure solutions connecting global markets;
- Customers choose us first for reliable and value-added services;
- Investors receive sustainable industry-leading total returns;
- Employees say we are the 'employer of choice' and value our safe, respectful, collaborative and fair work culture;
and
- Communities welcome us and recognize the net positive impact of our social and environmental commitment.
Pembina's strategy is to:
- Preserve Value by providing safe, environmentally conscious, cost-effective and reliable services;
- Diversify by providing integrated solutions which enhance profitability and customer service;
- Implement Growth by pursuing projects or assets that are expected to generate cash flow per share accretion and
capture long-life, economic hydrocarbon reserves; and
- Secure Global Markets by understanding what the world needs, where they need it, and delivering it.
Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures
Division.
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 (collectively, "forward-looking 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, relating to future dividends which may be declared on
Pembina's common shares, the dividend payments 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: the ability of Pembina and any required third parties to effectively engage with stakeholders;
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; 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; that there are no unforeseen material construction, integrity or other costs related to current growth projects or
current operations; and prevailing interest and tax rates.
Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking
statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will
prove to be correct. Readers are cautioned that events or circumstances could cause results to differ materially from those
predicted, forecasted or projected. By their nature, forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause actual performance and financial results in future periods to differ materially from
any projections of future performance or results expressed or implied by such forward-looking statements and information. These
known and unknown risks and uncertainties, include, but are not limited to: the regulatory environment and decisions;
the ability of Pembina to raise sufficient capital (or to raise sufficient capital on favourable terms) to fund future
expansions and growth projects and satisfy future commitments; failure to negotiate and conclude any required commercial
agreements or failure to obtain project sanctioning; increased construction costs, or construction delays, on Pembina's expansion
and growth projects; labour and material shortages; 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; 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, 2018, which can be found at www.sedar.com.
The forward-looking statements are expressly qualified by the above statements and speak only as of the date of this
document. 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.
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SOURCE Pembina Pipeline Corporation
View original content: http://www.newswire.ca/en/releases/archive/March2019/06/c5938.html