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Pembina Pipeline Corporation Announces Redemption of Series 23 Preferred Shares
Pembina Pipeline Corporation Announces Redemption of Series 23 Preferred Shares ...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n \n \n \n Pembina Pipeline Corporation Announces Redemption of Series 23 Preferred Shares\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.prntal{\nTEXT-ALIGN: LEFT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n All financial figures are in Canadian dollars unless otherwise noted.\n \n \n \n \n \n \n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Oct. 14, 2022\n \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 23 (\"Series 23 Shares\") (TSX: PPL.PF.C) on\n \n November 15, 2022\n \n (the \"Redemption Date\").\n \n \n Pembina intends to redeem all of its 12,000,000 issued and outstanding Series 23 Shares, in accordance with the terms of the Series 23 Shares, as set out in the Company's articles of amendment dated\n \n December 16, 2019\n \n , on the Redemption Date for a redemption price equal to $25.00 per Series 23 Share (the \"Redemption Price\"), less any tax required to be deducted or withheld by the Company. The total redemption price to Pembina will be $300 million.\n \n \n As previously announced, the dividend payable on\n \n November 15, 2022\n \n , to holders of the Series 23 Shares of record on\n \n October 31, 2022\n \n , will be\n \n $0.328125\n \n per Series 23 Share. This will be the final quarterly dividend on the Series 23 Shares. Upon payment of the November 15, 2022, dividend, there will be no accrued and unpaid dividends on the Series 23 Shares as at the Redemption Date.\n \n \n The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series 23 Shares in accordance with the terms of the Series 23 Shares, as set out in the Company's articles of amendment dated\n \n December 16, 2019\n \n . For non-registered holders of Series 23 Shares, no further action is required however, they should contact their broker or other intermediary with any questions regarding the redemp...