Pembina Announces September 2009 Distribution



    CALGARY, Sept. 11 /CNW/ - Pembina Pipeline Income Fund ("Pembina" or the
"Fund") announces the September 2009 cash distribution to Unitholders of 13
cents per Trust Unit, to be paid October 15, 2009 to Unitholders of record on
September 25, 2009.
    Pembina's strong record of achievement and established reputation of
delivering stable and reliable distributions to Unitholders is supported by
premium energy infrastructure assets, diversified services, strategic
expansions and additions, prudent financial management, and strong stakeholder
relationships.
    Pembina's proven business strategy, premium assets and growth prospects
are expected to continue to produce solid, sustainable results which, based on
internal projections and certain assumptions, will support the Fund's
commitment to maintain its current distribution level of $1.56 per Trust Unit
annually through 2013 (in the form of a dividend after planned corporate
conversion, which is expected to occur prior to January 1, 2011) (see
"Forward-Looking Statements and Information" below).
    A component of the Fund's cash distributions is taxable in the hands of
the Unitholder, with the remaining portion a return of capital, unless held in
a tax-deferred account. Pembina estimates 75 percent of the 2009 distributions
will be taxable and 25 percent will be a return of capital for Canadian tax
purposes. Pembina's distributions are subject to current domestic tax laws
which require a withholding tax from distribution income to nonresidents of
Canada. Pembina's 2008 tax information for Canadian and U.S. investors is
available at www.pembina.com under the heading "Investors" and at www.cds.ca.
    For eligible investors, the Fund offers a DRIP, which provides
Unitholders with a convenient and economical way to maximize their investment
in Pembina. Further details and enrollment forms for the DRIP are available on
Pembina's website at www.pembina.com under the heading "Investors".
    The Fund is among the leading issuers in the Canadian energy
infrastructure trust sector. Pembina's extensive network of conventional
liquids feeder pipelines, and growing presence in the oil sands, heavy oil,
midstream and gas services sectors, provide an integral service to the western
Canadian energy industry. This balanced portfolio of premium, long-life energy
infrastructure assets supports the stability and sustainability of the Fund.

    Forward-Looking Information and Statements

    This news release contains certain forward-looking information and
statements that are based on the Fund's and Pembina's current expectations,
estimates, projections and assumptions in light of its experience and its
perception of historical trends. In this news release, such forward-looking
information and statements can be identified by terminology such as "will",
"expects", "estimate", "projects", "expansion", and similar expressions.
    In particular, this news release contains forward-looking statements,
including certain financial outlook, regarding the possible conversion of
Pembina to a corporate form prior to January 1, 2011 and the ability of
Pembina to maintain its current level of cash distributions to its equity
holders both prior to and for the foreseeable future after conversion (in the
form of dividends after conversion). These forward-looking statements are
being made by Pembina based on certain assumptions that Pembina has made in
respect thereof as at the date of this news release. These assumptions
include, in respect of the possible corporate conversion; that favourable
growth parameters continue to exist in respect of current and future projects
of Pembina (including in respect of the ability to finance such projects on
favourable terms); that there will be no changes to current tax laws governing
the taxation of specified investment flow-through ("SIFT") entities and the
treatment of distributions from such entities; that the draft legislation
related to the conversion of SIFT entities into corporations, as introduced on
July 14, 2008, will be enacted in the form proposed; and the continued
sustainable results of all of Pembina's business segments.
    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: non-performance of agreements in accordance
with their terms; the impact of competitive entities and pricing; reliance on
key industry partners, alliances and agreements; the strength and operations
of the oil and natural gas production industry and related commodity prices;
the continuation or completion of third party projects; regulatory environment
and inability to obtain required regulatory approvals; tax laws and treatment;
fluctuations in operating results; the ability of Pembina to raise sufficient
capital to complete future projects and satisfy future commitments;
construction delays; labour and material shortages; and certain other risks
detailed from time to time in the Fund's public disclosure documents
including, among other things, those detailed under the heading "Risk Factors"
in the Fund's annual information form for the year ended December 31, 2008 and
the Fund's management's discussion and analysis for the year ended December
31, 2008, each of which can be found under the Fund's SEDAR profile at
www.sedar.com.
    Accordingly, readers are cautioned that events or circumstances could
cause results to differ materially from those predicted, forecasted or
projected. Such forward-looking statements are expressly qualified by the
above statements. The Fund does not undertake any obligation to publicly
update or revise any forward-looking statements or information contained
herein, except as required by applicable laws. Management of the Fund approved
the financial outlook contained herein as of the date of this news release.
The purpose of the financial outlook contained herein is to give the reader an
indication of the potential effects to Unitholders of a possible conversion of
Pembina to corporate form. Readers should be aware that the information
contained in the financial outlook contained herein may not be appropriate for
other purposes.





For further information:

For further information: Glenys Hermanutz, Vice President, Corporate
Affairs, Pembina Pipeline Corporation, (403) 231-7500, 1-888-428-3222, e-mail:
investor-relations@pembina.com


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