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Pembina Pipeline Corporation Declares Common Share Dividend and Announces Closing of Term Loan
Pembina Pipeline Corporation Declares Common Share Dividend and Announces Closing of Term ...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n\n\n\nPembina Pipeline Corporation Declares Common Share Dividend and Announces Closing of Term Loan\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, March 9, 2018\n\n\n\nCALGARY, 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.\n\nFor 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.\n\nPembina 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.\n\nClosing of Term Loan and Credit Facility Extension\n\nPembina 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 credi...