CALGARY, Dec. 6, 2011 /CNW/ - The Board of Directors of Pembina Pipeline
Corporation ("Pembina") (TSX: PPL) has declared a December 2011 cash
dividend of $0.13 per share to be paid, subject to applicable law, on
January 13, 2012 to shareholders of record on December 31, 2011. This
dividend is designated an "eligible dividend" for Canadian income tax
Based on internal projections and certain assumptions, Pembina expects
to maintain its current dividend of 13 cents per share per month ($1.56
per share per year) through 2013.
Reinstatement of Premium Dividend™ and Dividend Reinvestment Plan
Pembina intends to reinstate the Premium Dividend™ and Dividend
Reinvestment Plan ("DRIP") effective as of the January 25, 2012 record
date and the corresponding dividend payable on February 15, 2012.
If you are an eligible shareholder of Pembina, as described in the DRIP
documents available at www.pembina.com, the DRIP provides an
opportunity for you to receive, by reinvesting the cash dividends
declared payable by Pembina on your shares, either
additional common shares at a discounted subscription price equal to 95
percent of the Average Market Price (as defined in the DRIP), pursuant
to the "Dividend Reinvestment Component" of the DRIP, or
premium cash payment (the "Premium Dividend™") equal to 102 percent of
the amount of your reinvested dividends, pursuant to the "Premium
Dividend™ Component" of the DRIP,
in either case upon and subject to the terms and conditions of the DRIP.
Shareholders must contact the broker, investment dealer, financial
institution or other nominee through whom their Pembina common shares
are held to enroll in the DRIP.
Further details and enrollment forms for the DRIP are available on
Pembina's website under Investor Centre.
Unless otherwise announced by Pembina, a shareholder who is a resident
of the United States or is otherwise a "U.S. person" as that term is
defined in Regulation S under the United States Securities Act of 1933,
as amended, may not participate in either component of the Plan.
DRIP proceeds will be directed toward Pembina's ongoing 2012 capital
program and the reduction of outstanding bank debt.
Pembina transports crude oil and natural gas liquids produced in western
Canada, owns and operates oil sands pipelines and has a growing
presence in midstream and natural gas services sectors. Pembina's
common shares and convertible debentures are traded on the TSX under
the symbols PPL and PPL.DB.C respectively.
Forward-Looking Information and Statements
This news release contains certain forward-looking information and
statements ("forward-looking statements") that are based on the
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 statements can be identified by
terminology such as "to be", "expects", "projects", "intends" and
In particular, this news release contains forward-looking statements,
including certain financial outlook, regarding the ability of Pembina
to maintain its current level of cash dividends to its equity holders
through 2013. 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 document, including: that favourable
growth parameters continue to exist in respect of current and future
growth projects (including the ability to finance such projects on
favourable terms); and that Pembina's businesses will continue to
achieve sustainable financial results.
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: 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; regulatory environment and
inability to obtain required regulatory approvals; tax laws and
treatment; fluctuations in operating results; the ability of Pembina to
raise sufficient capital to complete future projects and satisfy future
commitments; 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 for the year ended December 31, 2010, which can be found
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 and are made as of the date of this news release.
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. Management of Pembina approved the
financial outlook contained herein as of the date of this news release
to give the reader an indication as to the expected level of dividends
through 2013. Readers should be aware the information contained in the
financial outlook contained herein may not be appropriate for other
All dollar values are in Canadian dollars.