CALGARY, Feb. 15, 2012 /CNW/ - The Board of Directors of Pembina Pipeline Corporation ("Pembina") (TSX: PPL) has declared a February 2012 cash dividend of $0.13 per share to be paid, subject to applicable law, on March 15, 2012 to shareholders of record on February 25, 2012. This dividend is designated an "eligible dividend" for Canadian income tax purposes.
Reinstatement of Premium Dividend™ and Dividend Reinvestment Plan
Pembina reinstated the Premium Dividend™ and Dividend Reinvestment Plan ("DRIP") effective as of the January 25, 2012 record date and the corresponding dividend payable on February 15, 2012.
Eligible Pembina shareholders, as described in the DRIP documents available at www.pembina.com, have an opportunity to receive, by reinvesting the cash dividends declared payable by Pembina on your shares, either
|(i)||additional common shares at a discounted subscription price equal to 95 percent of the Average Market Price (as defined in the DRIP), pursuant to the "Dividend Reinvestment Component" of the DRIP, or|
|(ii)||premium cash payment (the "Premium Dividend™") equal to 102 percent of the amount of your reinvested dividends, pursuant to the "Premium Dividend™ Component" of the DRIP,|
in either case upon and subject to the terms and conditions of the DRIP.
Shareholders must contact the broker, investment dealer, financial institution or other nominee through whom their Pembina common shares are held to enroll in the DRIP.
Further details and enrollment forms for the DRIP are available on Pembina's website under Investor Centre.
Unless otherwise announced by Pembina, a shareholder who is a resident of the United States or is otherwise a "U.S. person" as that term is defined in Regulation S under the United States Securities Act of 1933, as amended, may not participate in either component of the Plan.
DRIP proceeds will be directed toward Pembina's ongoing 2012 capital program and the reduction of outstanding bank debt.
Pembina transports crude oil and natural gas liquids produced in western Canada, owns and operates oil sands pipelines and has a growing presence in midstream and natural gas services sectors. Pembina's common shares and convertible debentures are traded on the TSX under the symbols PPL and PPL.DB.C respectively.
All dollar values are in Canadian dollars.
For further information:
Vice President, Corporate Affairs
Pembina Pipeline Corporation
e-mail: [email protected]