Pembina Pipeline Corporation declares common stock dividend for September 2022

CALGARY, Alta., September 7, 2022 /PRNewswire/ – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL) (NYSE: PBA) today announced that its Board of Directors has declared a common stock cash dividend for September 2022 of $0.2175 per share payable, subject to applicable law, the October 14, 2022to shareholders of record on September 23, 2022. As previously announced, Pembina’s Board of Directors has approved a $0.0075 per common share to increase its monthly common share dividend rate to $0.2175 in connection with the closing of the Pembina Gas Infrastructure transaction. Dividends on common shares are designated as “eligible dividends” for Canadian income tax purposes. For non-resident shareholders, dividends on Pembina common shares should be considered “eligible dividends” and may be subject to Canadian withholding tax.

For shareholders who receive their common stock dividends in U.S. dollars, the September 2022 the cash dividend is expected to be approximately US $0.1655 per share (before deducting any applicable Canadian withholding tax) using an exchange rate of 0.7611. The actual dividend in US dollars will depend on the exchange rate between the Canadian dollar and the US dollar on the date of payment and will be subject to applicable withholding taxes.

Check-in Confirmation and Payment Date Policy

Pembina pays monthly cash dividends on its common shares in Canadian dollars to shareholders of record on the 25e day of each month (except for the December record date, which is the 31st of Decemberst), if, as and when determined by the Board of Directors. If the check-in date falls on a weekend or holiday, the effective check-in date will be the previous business day. The dividend payment date is 15e day of the month following the date of registration. If the payment date falls on a weekend or holiday, the business day preceding the weekend or holiday becomes the payment date.

About Pembina

Pembina Pipeline Corporation is a leading provider of energy transmission and midstream services that has served North America energy sector for more than 65 years. Pembina has an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, as well as a business growing export terminals. Through our integrated value chain, we seek to provide safe and reliable infrastructure solutions that connect energy producers and consumers around the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit pembina.com.

Goal of Pembina:

To be the leader in providing integrated infrastructure solutions connecting global markets:

  • Clients choose us first for reliable, value-added services;
  • Investors receive industry-leading sustainable total returns;
  • Employees claim that we are “the employer of choice” and value our safe, respectful, collaborative and inclusive work culture; and
  • Communities welcome us and recognize the net positive impact of our social and environmental commitment.

Pembina is structured into three divisions: the Pipelines Division, the Facilities Division, and the Marketing and New Ventures Division.

Pembina common stock trades at Toronto and New York scholarships under PPL and PBA, respectively. For more information, visit www.pembina.com.

Forward-looking information and statements

This press release contains certain forward-looking information and statements (collectively, “forward-looking statements”), including forward-looking statements within the meaning of the “safe harbor” provisions of applicable securities laws, which are based on current expectations. of Pembina, estimates, projections and assumptions based on its experience and perception of historical trends. In some instances, forward-looking statements may be identified by terms such as “continue”, “anticipate”, “plan”, “will”, “expect”, “estimate”, “potential”, “planned”, “future”, “outlook”, “strategy”, “protect”, “trend”, “commit”, “maintain”, “focus”, “ongoing”, “believe” and similar expressions suggesting future events or future performance.

In particular, this press release contains forward-looking statements regarding: future dividends that may be declared on Pembina common stock; the timing and amount of such dividend payments; and the expected tax treatment thereof. Forward-looking statements are based on certain assumptions Pembina has made with respect to them as of the date of this press release regarding, among other things: the success of Pembina’s operations and growth projects; prevailing commodity prices, margins, volumes and exchange rates; that Pembina’s future operating results will be consistent with past performance and management’s expectations in this regard; the availability of capital to fund future capital requirements related to existing assets and projects; future operating costs; that all required regulatory and environmental approvals can be obtained under the necessary conditions in a timely manner; applicable regulatory, tax and environmental laws and regulations; maintenance of operating margins; and the availability of coverage under Pembina’s insurance policies (including with respect to Pembina’s business interruption insurance policy).

Although Pembina believes that the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that such expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: environmental and regulatory decisions; Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties of agreements that Pembina or one or more of its affiliates have entered into with respect to its business; actions of governmental or regulatory authorities; Pembina’s ability to acquire or develop infrastructure necessary for future development projects; fluctuations in operating results; general unfavorable economic and market conditions in Canada, North America and around the world; risks related to current and potential adverse effects of the COVID-19 pandemic; the ability to access various sources of debt and equity capital; changes in credit ratings; counterparty credit risk; the conflict between Ukraine and Russia and its potential impact on, among other things, global market conditions and supply and demand, energy and commodity prices; interest rates, supply chains and the global economy generally; and certain other risks and uncertainties detailed in Pembina’s MD&A and Annual Information Form, each for the year ended December 31, 2021and from time to time in Pembina’s public disclosure documents available at www.sedar.com, www.sec.gov and on the Pembina website at www.pembina.com.

This list of risk factors should not be considered exhaustive. Readers are cautioned that events or circumstances could cause actual results to differ materially from those anticipated, anticipated or projected. The forward-looking statements contained in this press release speak only as of the date hereof. Pembina undertakes no obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE Pembina Pipeline Corporation

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