CALGARY, AB, April 6, 2021 /CNW/ – Pembina Pipeline Company (“Pembina” or the “Firm”) (TSX: PPL) (NYSE: PBA) introduced right this moment its intention to redeem its issued and excellent Cumulative Redeemable Minimal Price Reset Class A Most well-liked Shares, Collection 13 (TSX: PPL.PR.M) (the “Collection 13 Shares”) on June 1, 2021. The Firm additional introduced that its Board of Administrators has declared a typical share money dividend for April 2021 of $0.21 per share and quarterly dividends for the Firm’s most well-liked shares.

Redemption of Collection 13 Shares

Pembina intends to redeem all of its 10,000,000 issued and excellent Collection 13 Shares, in accordance with the phrases of the Collection 13 Shares, as set out within the Firm’s articles, on June 1, 2021 (the “Redemption Date”) for a redemption worth equal to $25.00 per Collection 13 Share (the “Redemption Value”), much less any tax required to be deducted or withheld by the Firm. The entire redemption worth to Pembina can be $250 million and is predicted to be paid with a portion of the web proceeds from the $600 million providing of 4.80% Mounted-to-Mounted Price Subordinated Notes, Collection 1 (the “Providing”) which closed on January 25, 2021.

As famous under, the Firm’s Board of Administrators has declared a dividend of $0.359375 per Collection 13 Share payable on June 1, 2021, to holders of file on Could 3, 2021. This would be the closing quarterly dividend on the Collection 13 Shares. Upon fee of the June 1, 2021 dividend, there can be no accrued and unpaid dividends on the Collection 13 Shares as on the Redemption Date.

The Firm has offered discover right this moment of the Redemption Value and the Redemption Date to the only real registered holder of the Collection 13 Shares in accordance with the phrases of the Collection 13 Shares, as set out within the Firm’s articles. Non-registered holders of Collection 13 Shares ought to contact their dealer or different middleman for data relating to the redemption course of for the Collection 13 Shares wherein they maintain a useful curiosity. The Firm’s switch agent for the Collection 13 Shares is Computershare Investor Providers Inc. Questions relating to the redemption course of may additionally be directed to Computershare at 1-800-564-6253 or by e mail to [email protected]  

Declaration of Frequent and Most well-liked Dividend

Pembina’s Board of Administrators has declared a typical share money dividend for April 2021 of $0.21 per share to be paid, topic to relevant regulation, on Could 14, 2021 to shareholders of file on April 23, 2021. The frequent share dividends are designated “eligible dividends” for Canadian revenue tax functions. For non-resident shareholders, Pembina’s frequent share dividends ought to be thought of “certified dividends” and could also be topic to Canadian withholding tax.

For shareholders receiving their frequent share dividends in U.S. funds, the April 2021 money dividend is predicted to be roughly U.S. $0.1677 per share (earlier than deduction of any relevant Canadian withholding tax) primarily based on a forex alternate price of 0.7984. The precise U.S. greenback dividend will rely upon the Canadian/U.S. greenback alternate price on the fee date and can be topic to relevant withholding taxes.

Pembina’s Board of Administrators additionally declared quarterly dividends for the Firm’s most well-liked shares, Collection 1, 3, 5, 7, 9, 13, 15, 17, 19, 21, 23 and 25. Collection 1, 3, 5, 7, 9, 13 and 21 most well-liked share dividends are payable on June 1, 2021 to shareholders of file on Could 3, 2021. Collection 15, 17 and 19 most well-liked share dividends are payable on June 30, 2021 to shareholders of file on June 15, 2021. Collection 23 and 25 most well-liked share dividends are payable on Could 17, 2021 to shareholders of file on April 30, 2021.

Affirmation of Report and Fee Date Coverage

Pembina pays money dividends on its frequent shares in Canadian {dollars} on a month-to-month foundation to shareholders of file on the 25^th calendar day of every month (aside from the December file date, which is December 31^st), if, as and when decided by the Board of Administrators. Ought to the file date fall on a weekend or a statutory vacation, the efficient file date would be the earlier enterprise day. The dividend fee date is the 15^th calendar day of the month following the file date. Ought to the fee date fall on a weekend or on a statutory vacation, the enterprise day previous to the weekend or statutory vacation turns into the fee date.

Dividends on the popular shares Collection 1, 3, 5, 7, 9, 13 and 21 are payable on the primary calendar day of March, June, September and December in annually, if, as and when declared by the Board of Administrators to shareholders of file on the primary calendar day of the previous month, or, if such fee or file date is just not a enterprise day, the subsequent succeeding enterprise day after the weekend or statutory vacation. Dividends on the popular shares Collection 15, 17 and 19 are payable on the final calendar day of March, June, September and December in annually, if, as and when declared by the Board of Administrators to shareholders of file on the 15^th calendar day of the identical month, or, if such fee or file date is just not a enterprise day, the subsequent succeeding enterprise day after the weekend or statutory vacation. Dividends on the popular shares Collection 23 and 25 are payable on the 15^th day of February, Could, August and November in annually, if, as and when declared by the Board of Administrators to shareholders of file on the final enterprise day of the previous month, or, if such fee or file date is just not a enterprise day, the subsequent succeeding enterprise day after the weekend or statutory vacation.

Convention Name and Webcast Particulars for First Quarter 2021 Outcomes

Pembina will launch its first quarter 2021 outcomes on Thursday, Could 6, 2021 after markets shut. A convention name and webcast have been scheduled for Friday, Could 7, 2021, at 8:00 a.m. MT (10:00 a.m. ET) for buyers, analysts, brokers and media representatives.

The convention name dial-in numbers for Canada and the U.S. are 647-427-7450 or 888-231-8191. A recording of the convention name can be accessible for replay till Could 14, 2021 at 11:59 p.m. ET. To entry the replay, please dial both 416-849-0833 or 855-859-2056 and enter the password 9083723.

A dwell webcast of the convention name might be accessed on Pembina’s web site at www.pembina.com beneath Investor Centre, Presentation & Occasions, or by getting into:

https://produceredition.webcasts.com/starthere.jsp?ei=1354254&tp_key=7450e25cf7 in your internet browser. Shortly after the decision, an audio archive can be posted on the web site for at least 90 days.

Annual Assembly of Frequent Shareholders

The Firm will maintain its Annual Assembly of Frequent Shareholders (“AGM”) on Friday, Could 7, 2021 at 2:00 p.m. MT (4:00 p.m. ET). The AGM will he held as a virtual-only assembly, which can be performed by way of dwell video webcast at https://internet.lumiagm.com/?fromUrl=475399186. Individuals are really useful to register for the digital webcast at the least 10 minutes earlier than the presentation begin time.

For additional data on Pembina’s digital AGM, kindly go to www.pembina.com.

About Pembina

Pembina is a number one transportation and midstream service supplier that has been serving North America’s power {industry} for greater than 65 years. Pembina owns an built-in system of pipelines that transport varied hydrocarbon liquids and pure gasoline merchandise produced primarily in western Canada. The Firm additionally owns gasoline gathering and processing amenities; an oil and pure gasoline liquids infrastructure and logistics enterprise; and is rising an export terminals enterprise. Pembina’s built-in property and business operations alongside nearly all of the hydrocarbon worth chain enable it to supply a full spectrum of midstream and advertising and marketing companies to the power sector. Pembina is dedicated to figuring out extra alternatives to attach hydrocarbon manufacturing to new demand areas by the event of infrastructure that might prolong Pembina’s service providing even additional alongside the hydrocarbon worth chain. These new developments will contribute to making sure that hydrocarbons produced within the Western Canadian Sedimentary Basin and the opposite basins the place Pembina operates can attain the best worth markets all through the world.

Goal of Pembina:

To be the chief in delivering built-in infrastructure options connecting international markets:

• Prospects select us first for dependable and value-added companies;
• Buyers obtain sustainable industry-leading complete returns;
• Staff say we’re the ’employer of alternative’ and worth our protected, respectful, collaborative and truthful work tradition; and
• Communities welcome us and acknowledge the web constructive impression of our social and environmental dedication.

Pembina is structured into three Divisions: Pipelines Division, Amenities Division and Advertising and marketing & New Ventures Division.

Pembina’s frequent shares commerce on the Toronto and New York inventory exchanges beneath PPL and PBA, respectively. For extra data, go to www.pembina.com.

Ahead-Wanting Data and Statements

This information launch accommodates sure forward-looking data and statements (collectively, “forward-looking statements”) which are primarily based on Pembina’s present expectations, estimates, projections and assumptions in gentle of its expertise and its notion of historic tendencies. On this information launch, such forward-looking statements might be recognized by terminology similar to “ought to”, “could”, “will”, “proceed”, “if”, “to be”, “expects”, and related expressions suggesting future occasions or future efficiency.

Specifically, this information launch accommodates forward-looking statements regarding: the anticipated use of the web proceeds of the Providing and the redemption of the Collection 13 Shares, together with the Redemption Value (per Collection 13 Share and on an mixture foundation) and the Redemption Date; future dividends which can be declared on Pembina’s frequent shares and most well-liked shares; the timing and the quantity of the dividend funds and the tax therapy thereof; and the timing for launch of the Firm’s first quarter 2021 outcomes. These forward-looking statements are being made by Pembina primarily based on sure assumptions that Pembina has made in respect thereof as on the date of this information launch, relating to, amongst different issues: the flexibility of Pembina and any required third events to successfully have interaction with stakeholders; oil and gasoline {industry} exploration and growth exercise ranges; the success of Pembina’s operations and progress tasks; prevailing commodity costs, margins, volumes and alternate charges; that Pembina’s future outcomes of operations can be in line with previous efficiency and administration expectations in relation thereto; the continued availability of capital at engaging costs to fund future capital necessities regarding current property and tasks, together with however not restricted to future capital expenditures regarding growth, upgrades and upkeep shutdowns; that any third get together tasks regarding Pembina’s progress tasks can be sanctioned and accomplished as anticipated; that any required business agreements might be reached; that each one required regulatory and environmental approvals might be obtained on the mandatory phrases in a well timed method; that counterparties to materials agreements will proceed to carry out in a well timed method; that there are not any unexpected occasions stopping the efficiency of contracts; that there are not any unexpected materials building, integrity or different prices associated to present progress tasks or present operations; prevailing curiosity and tax charges; and the provision of protection beneath Pembina’s insurance coverage insurance policies (together with in respect of Pembina’s enterprise interruption insurance coverage coverage).

Though Pembina believes the expectations and materials elements and assumptions mirrored in these forward-looking statements are cheap as of the date hereof, there might be no assurance that these expectations, elements and assumptions will show to be right. Readers are cautioned that occasions or circumstances might trigger precise outcomes to vary materially from these predicted, forecasted or projected. By their nature, forward-looking statements contain quite a few assumptions, identified and unknown dangers and uncertainties that contribute to the chance that the predictions, forecasts, projections and different forward-looking statements won’t happen, which can trigger precise efficiency and monetary leads to future intervals to vary materially from any projections of future efficiency or outcomes expressed or implied by such forward-looking statements. These identified and unknown dangers and uncertainties, embrace, however will not be restricted to: the regulatory atmosphere and selections; the flexibility of Pembina to boost adequate capital (or to boost adequate capital on beneficial phrases) to fund future expansions and progress tasks and fulfill future commitments; failure to barter and conclude any required business agreements or failure to acquire venture sanctioning; elevated building prices, or building delays, on Pembina’s growth and progress tasks; labour and materials shortages; non-performance or default by counterparties to agreements which Pembina or a number of of its associates has entered into in respect of its enterprise; the failure to comprehend the anticipated advantages or synergies of accomplished acquisitions (together with the acquisition of Kinder Morgan Canada Restricted and the U.S. portion of the Cochin Pipeline), integration points or in any other case; the impression of aggressive entities and pricing; reliance on key {industry} companions, alliances and agreements; the energy and operations of the oil and pure gasoline manufacturing {industry} and associated commodity costs; the continuation or completion of third-party tasks; actions by governmental or regulatory authorities together with modifications in tax legal guidelines and therapy, modifications in royalty charges, local weather change initiatives or insurance policies or elevated environmental regulation; opposed basic financial and market situations in Canada, North America and worldwide, together with modifications, or extended weaknesses, as relevant, in rates of interest, overseas forex alternate charges, commodity costs, provide/demand tendencies and general {industry} exercise ranges; dangers regarding widespread epidemics or pandemic outbreaks, together with dangers regarding the continuing COVID-19 pandemic; modifications in credit score rankings; counterparty credit score threat; know-how and cyber safety dangers; and sure different dangers detailed on occasion in Pembina’s public disclosure paperwork together with, amongst different issues, these detailed beneath the heading “Threat Elements” in Pembina’s administration’s dialogue and evaluation and annual data kind, every for the yr ended December 31, 2020, every which might be discovered at www.sedar.com and with the U.S. Securities and Trade Fee at www.sec.gov and accessible on Pembina’s web site at www.pembina.com.

The forward-looking statements are expressly certified by the above statements and communicate solely as of the date of this doc. Pembina doesn’t undertake any obligation to publicly replace or revise any forward-looking statements contained herein, besides as required by relevant legal guidelines.

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SOURCE Pembina Pipeline Company

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