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Pembina Pipeline Corporation Announces Redemption of Series 13 Preferred Shares, Declares Dividends, and Announces First Quarter 2021 Results Conference Call and Webcast
Pembina Pipeline Corporation Announces Redemption of Series 13 Preferred Shares, Declares...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n \n \n \n Pembina Pipeline Corporation Announces Redemption of Series 13 Preferred Shares, Declares Dividends, and Announces First Quarter 2021 Results Conference Call and Webcast\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n April 6, 2021\n \n /CNW/ - Pembina Pipeline Corporation (\"Pembina\" or the \"Company\") (TSX: PPL) (NYSE: PBA) announced today its intention to redeem its issued and outstanding Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 13 (TSX: PPL.PR.M) (the \"Series 13 Shares\") on\n \n June 1, 2021\n \n . The Company further announced that its Board of Directors has declared a common share cash dividend for\n \n April 2021\n \n of\n \n $0.21\n \n per share and quarterly dividends for the Company's preferred shares.\n \n \n \n Redemption of Series 13 Shares\n \n \n \n Pembina intends to redeem all of its 10,000,000 issued and outstanding Series 13 Shares, in accordance with the terms of the Series 13 Shares, as set out in the Company's articles, on\n \n June 1, 2021\n \n (the \"Redemption Date\") for a redemption price equal to\n \n $25.00\n \n per Series 13 Share (the \"Redemption Price\"), less any tax required to be deducted or withheld by the Company. The total redemption price to Pembina will be\n \n $250 million\n \n and is expected to be paid with a portion of the net proceeds from the\n \n $600 million\n \n offering of 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1 (the \"Offering\") which closed on\n \n January 25, 2021\n \n .\n \n \n As noted below, the Company's Board of Directors ha...