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Pembina Pipeline Corporation Declares March 2017 Common Share Dividend and Suspension of the Dividend Reinvestment Plan
Pembina Pipeline Corporation Declares March 2017 Common Share Dividend and Suspension of t...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n\n\n\nPembina Pipeline Corporation Declares March 2017 Common Share Dividend and Suspension of the Dividend Reinvestment Plan\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 7, 2017\n\n\n\nCALGARY, March 7, 2017 /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 2017 of $0.16 per share to be paid, subject to applicable law, on April 15, 2017 to shareholders of record on March 25, 2017. 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 2017 cash dividend is expected to be approximately U.S. $0.1194 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7460. 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\nSuspension of the Dividend Reinvestment Plan\n\nPembina also announced today that its Board of Directors has suspended, until further notice, its Premium DividendTM[1] and Dividend Reinvestment Plan (\"DRIP\"), effective April 25, 2017. Accordingly, the March 2017 dividend will be the last dividend to be reinvested through the DRIP and dividends starting in respect of the April 2017 dividend, payable on May 15, 2017 to shareholders of record on April 25, 2017, will not be reinvested through the DRIP. Shareholders who were enrolled in the program will automatically receive dividend payments in the form of cash. If Pembina elects to reinstate the DRIP in the future, shareholders that were enrolled in the DRIP at suspension and remained enrolled at reinstatement will automatically resume participation in the DRIP.\n\nPembina is electing to suspend its DRIP in ligh...