Latest news with #Pembina
Globe and Mail
08-07-2025
- Business
- Globe and Mail
Pembina Pipeline Corporation Declares Quarterly Preferred Share Dividends and Announces Second Quarter 2025 Results Conference Call and Webcast
Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that its Board of Directors has declared quarterly dividends for the Company's preferred shares, Series 1, 3, 5, 7, 9, 15, 17, 21 and 25. Series 1, 3, 5, 7, 9, and 21 preferred share dividends are payable on September 2, 2025, to shareholders of record on August 1, 2025. Series 15 and 17 preferred share dividends are payable on October 1, 2025 to shareholders of record on September 15, 2025. Series 25 preferred share dividends are payable on August 15, 2025, to shareholders of record on July 31, 2025. This press release features multimedia. View the full release here: Series Dividend Amount Preferred Shares, Series 1 ( $0.407813 Preferred Shares, Series 3 ( $0.376188 Preferred Shares, Series 5 ( $0.425875 Preferred Shares, Series 7 ( $0.372063 Preferred Shares, Series 9 ( $0.268875 Preferred Shares, Series 15 ( $0.385250 Preferred Shares, Series 17 ( $0.412813 Preferred Shares, Series 21 ( $0.393875 Preferred Shares, Series 25 ( $0.405063 Confirmation of Record and Payment Date Policy Pembina pays cash dividends in Canadian dollars on its preferred shares Series 1, 3, 5, 7, 9, and 21 on the first day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the first day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 15 and 17 are payable on the last day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the 15 th day of the same month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 25 are payable on the 15 th day of February, May, August and November in each year, if, as and when declared by the Board of Directors to shareholders of record on the last day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Conference Call and Webcast Details for Second Quarter 2025 Results Pembina will release its second quarter 2025 results on Thursday, August 7, 2025, after markets close. A conference call and webcast have been scheduled for Friday, August 8, 2025, at 8:00 a.m. MT (10:00 a.m. ET) for interested investors, analysts, brokers and media representatives. The conference call dial-in numbers for Canada and the U.S. are 1-289-819-1520 or 1-800-549-8228. A recording of the conference call will be available for replay until Friday, August 15, 2025 at 11:59 p.m. ET. To access the replay, please dial either 1-289-819-1325 or 1-888-660-6264 and enter the password 92783 #. A live webcast of the conference call can be accessed on Pembina's website at under Investor Centre, Presentation & Events, or by entering: in your web browser. Shortly after the call, an audio archive will be posted on the website for a minimum of 90 days. About Pembina Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically-located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit Forward-Looking Statements and Information This news release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "continue", "anticipate", "will", "expects", "estimate", "potential", "planned", "future", "outlook", "strategy", "project", "plan", "commit", "maintain", "focus", "ongoing", "believe" and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements relating to, without limitation, future dividends which may be declared on Pembina's preferred shares and the timing and the amount thereof. The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news 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 results of operations will be consistent with past performance and management expectations in relation thereto; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; prevailing regulatory, tax and environmental laws and regulations and tax pool utilization; maintenance of operating margins; the amount of future liabilities relating to lawsuits and environmental incidents and the availability of coverage under Pembina's insurance policies (including in respect of Pembina's business interruption insurance policy). Although Pembina believes 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 these 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 that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions, including the outcome of regulatory hearings, and Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; reliance on key relationships, joint venture partners and agreements; labour and material shortages; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities, including changes in tax laws and treatment, the imposition of new tariffs, changes in royalty rates, changes in regulatory processes or increased environmental regulation; the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions, including potential recessions in Canada, North America and worldwide resulting in changes, or prolonged weaknesses, as applicable, in interest rates, foreign currency exchange rates, inflation rates, commodity prices, supply/demand trends and overall industry activity levels; constraints on, or the unavailability of, adequate supplies, infrastructure or labour; the political environment in North America and elsewhere, including changes in trade relations between Canada and the U.S., and public opinion thereon; the ability to access various sources of debt and equity capital; adverse changes in credit ratings; counterparty credit risk; technology and cyber security risks; natural catastrophes; and certain other risks detailed in Pembina's Annual Information Form and Management's Discussion and Analysis, each dated February 27, 2025 for the year ended December 31, 2024, and from time to time in Pembina's public disclosure documents available at and through Pembina's website at
National Post
08-07-2025
- Business
- National Post
Pembina Pipeline Corporation Declares Quarterly Preferred Share Dividends and Announces Second Quarter 2025 Results Conference Call and Webcast
Article content CALGARY, Alberta — Pembina Pipeline Corporation ('Pembina' or the 'Company') (TSX: PPL; NYSE: PBA) announced today that its Board of Directors has declared quarterly dividends for the Company's preferred shares, Series 1, 3, 5, 7, 9, 15, 17, 21 and 25. Series 1, 3, 5, 7, 9, and 21 preferred share dividends are payable on September 2, 2025, to shareholders of record on August 1, 2025. Series 15 and 17 preferred share dividends are payable on October 1, 2025 to shareholders of record on September 15, 2025. Series 25 preferred share dividends are payable on August 15, 2025, to shareholders of record on July 31, 2025. Article content Article content Confirmation of Record and Payment Date Policy Article content Pembina pays cash dividends in Canadian dollars on its preferred shares Series 1, 3, 5, 7, 9, and 21 on the first day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the first day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 15 and 17 are payable on the last day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the 15 th day of the same month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 25 are payable on the 15 th day of February, May, August and November in each year, if, as and when declared by the Board of Directors to shareholders of record on the last day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Article content Conference Call and Webcast Details for Second Quarter 2025 Results Article content Pembina will release its second quarter 2025 results on Thursday, August 7, 2025, after markets close. A conference call and webcast have been scheduled for Friday, August 8, 2025, at 8:00 a.m. MT (10:00 a.m. ET) for interested investors, analysts, brokers and media representatives. Article content The conference call dial-in numbers for Canada and the U.S. are 1-289-819-1520 or 1-800-549-8228. A recording of the conference call will be available for replay until Friday, August 15, 2025 at 11:59 p.m. ET. To access the replay, please dial either 1-289-819-1325 or 1-888-660-6264 and enter the password 92783 #. Article content A live webcast of the conference call can be accessed on Pembina's website at under Investor Centre, Presentation & Events, or by entering: Article content Article content in your web browser. Shortly after the call, an audio archive will be posted on the website for a minimum of 90 days. Article content About Pembina Article content Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically-located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit Article content Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Article content Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Article content Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit Article content This news release contains certain forward-looking statements and forward-looking information (collectively, 'forward-looking statements'), including forward-looking statements within the meaning of the 'safe harbor' provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as 'continue', 'anticipate', 'will', 'expects', 'estimate', 'potential', 'planned', 'future', 'outlook', 'strategy', 'project', 'plan', 'commit', 'maintain', 'focus', 'ongoing', 'believe' and similar expressions suggesting future events or future performance. Article content In particular, this news release contains forward-looking statements relating to, without limitation, future dividends which may be declared on Pembina's preferred shares and the timing and the amount thereof. The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news 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 results of operations will be consistent with past performance and management expectations in relation thereto; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; prevailing regulatory, tax and environmental laws and regulations and tax pool utilization; maintenance of operating margins; the amount of future liabilities relating to lawsuits and environmental incidents and the availability of coverage under Pembina's insurance policies (including in respect of Pembina's business interruption insurance policy). Article content Although Pembina believes 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 these 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 that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions, including the outcome of regulatory hearings, and Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; reliance on key relationships, joint venture partners and agreements; labour and material shortages; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; Article content actions by governmental or regulatory authorities, including changes in tax laws and treatment, the imposition of new tariffs, changes in royalty rates, changes in regulatory processes or increased environmental regulation; the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions, including potential recessions in Canada, North America and worldwide resulting in changes, or prolonged weaknesses, as applicable, in interest rates, foreign currency exchange rates, inflation rates, commodity prices, supply/demand trends and overall industry activity levels; constraints on, or the unavailability of, adequate supplies, infrastructure or labour; the political environment in North America and elsewhere, including changes in trade relations between Canada and the U.S., and public opinion thereon; the ability to access various sources of debt and equity capital; adverse changes in credit ratings; counterparty credit risk; technology and cyber security risks; natural catastrophes; and certain other risks detailed in Pembina's Annual Information Form and Management's Discussion and Analysis, each dated February 27, 2025 for the year ended December 31, 2024, and from time to time in Pembina's public disclosure documents available at Article content , Article content Article content . Article content Article content Article content Article content Article content Contacts
Yahoo
08-07-2025
- Business
- Yahoo
Pembina Pipeline Corporation Declares Quarterly Preferred Share Dividends and Announces Second Quarter 2025 Results Conference Call and Webcast
CALGARY, Alberta, July 08, 2025--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that its Board of Directors has declared quarterly dividends for the Company's preferred shares, Series 1, 3, 5, 7, 9, 15, 17, 21 and 25. Series 1, 3, 5, 7, 9, and 21 preferred share dividends are payable on September 2, 2025, to shareholders of record on August 1, 2025. Series 15 and 17 preferred share dividends are payable on October 1, 2025 to shareholders of record on September 15, 2025. Series 25 preferred share dividends are payable on August 15, 2025, to shareholders of record on July 31, 2025. Series Dividend Amount Preferred Shares, Series 1 ( $0.407813 Preferred Shares, Series 3 ( $0.376188 Preferred Shares, Series 5 ( $0.425875 Preferred Shares, Series 7 ( $0.372063 Preferred Shares, Series 9 ( $0.268875 Preferred Shares, Series 15 ( $0.385250 Preferred Shares, Series 17 ( $0.412813 Preferred Shares, Series 21 ( $0.393875 Preferred Shares, Series 25 ( $0.405063 Confirmation of Record and Payment Date Policy Pembina pays cash dividends in Canadian dollars on its preferred shares Series 1, 3, 5, 7, 9, and 21 on the first day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the first day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 15 and 17 are payable on the last day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the 15th day of the same month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 25 are payable on the 15th day of February, May, August and November in each year, if, as and when declared by the Board of Directors to shareholders of record on the last day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Conference Call and Webcast Details for Second Quarter 2025 Results Pembina will release its second quarter 2025 results on Thursday, August 7, 2025, after markets close. A conference call and webcast have been scheduled for Friday, August 8, 2025, at 8:00 a.m. MT (10:00 a.m. ET) for interested investors, analysts, brokers and media representatives. The conference call dial-in numbers for Canada and the U.S. are 1-289-819-1520 or 1-800-549-8228. A recording of the conference call will be available for replay until Friday, August 15, 2025 at 11:59 p.m. ET. To access the replay, please dial either 1-289-819-1325 or 1-888-660-6264 and enter the password 92783 #. A live webcast of the conference call can be accessed on Pembina's website at under Investor Centre, Presentation & Events, or by entering: in your web browser. Shortly after the call, an audio archive will be posted on the website for a minimum of 90 days. About Pembina Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically-located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit Forward-Looking Statements and Information This news release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "continue", "anticipate", "will", "expects", "estimate", "potential", "planned", "future", "outlook", "strategy", "project", "plan", "commit", "maintain", "focus", "ongoing", "believe" and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements relating to, without limitation, future dividends which may be declared on Pembina's preferred shares and the timing and the amount thereof. The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news 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 results of operations will be consistent with past performance and management expectations in relation thereto; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; prevailing regulatory, tax and environmental laws and regulations and tax pool utilization; maintenance of operating margins; the amount of future liabilities relating to lawsuits and environmental incidents and the availability of coverage under Pembina's insurance policies (including in respect of Pembina's business interruption insurance policy). Although Pembina believes 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 these 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 that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions, including the outcome of regulatory hearings, and Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; reliance on key relationships, joint venture partners and agreements; labour and material shortages; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities, including changes in tax laws and treatment, the imposition of new tariffs, changes in royalty rates, changes in regulatory processes or increased environmental regulation; the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions, including potential recessions in Canada, North America and worldwide resulting in changes, or prolonged weaknesses, as applicable, in interest rates, foreign currency exchange rates, inflation rates, commodity prices, supply/demand trends and overall industry activity levels; constraints on, or the unavailability of, adequate supplies, infrastructure or labour; the political environment in North America and elsewhere, including changes in trade relations between Canada and the U.S., and public opinion thereon; the ability to access various sources of debt and equity capital; adverse changes in credit ratings; counterparty credit risk; technology and cyber security risks; natural catastrophes; and certain other risks detailed in Pembina's Annual Information Form and Management's Discussion and Analysis, each dated February 27, 2025 for the year ended December 31, 2024, and from time to time in Pembina's public disclosure documents available at and through Pembina's website at This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause actual results to differ materially from those predicted, forecasted or projected. The forward-looking statements contained in this news release speak only as of the date hereof. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. View source version on Contacts For further information:Investor Relations(403) 231-31561-855-880-7404e-mail: investor-relations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
08-07-2025
- Business
- Business Wire
Pembina Pipeline Corporation Declares Quarterly Preferred Share Dividends and Announces Second Quarter 2025 Results Conference Call and Webcast
CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that its Board of Directors has declared quarterly dividends for the Company's preferred shares, Series 1, 3, 5, 7, 9, 15, 17, 21 and 25. Series 1, 3, 5, 7, 9, and 21 preferred share dividends are payable on September 2, 2025, to shareholders of record on August 1, 2025. Series 15 and 17 preferred share dividends are payable on October 1, 2025 to shareholders of record on September 15, 2025. Series 25 preferred share dividends are payable on August 15, 2025, to shareholders of record on July 31, 2025. Confirmation of Record and Payment Date Policy Pembina pays cash dividends in Canadian dollars on its preferred shares Series 1, 3, 5, 7, 9, and 21 on the first day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the first day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 15 and 17 are payable on the last day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the 15 th day of the same month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 25 are payable on the 15 th day of February, May, August and November in each year, if, as and when declared by the Board of Directors to shareholders of record on the last day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Conference Call and Webcast Details for Second Quarter 2025 Results Pembina will release its second quarter 2025 results on Thursday, August 7, 2025, after markets close. A conference call and webcast have been scheduled for Friday, August 8, 2025, at 8:00 a.m. MT (10:00 a.m. ET) for interested investors, analysts, brokers and media representatives. The conference call dial-in numbers for Canada and the U.S. are 1-289-819-1520 or 1-800-549-8228. A recording of the conference call will be available for replay until Friday, August 15, 2025 at 11:59 p.m. ET. To access the replay, please dial either 1-289-819-1325 or 1-888-660-6264 and enter the password 92783 #. A live webcast of the conference call can be accessed on Pembina's website at under Investor Centre, Presentation & Events, or by entering: in your web browser. Shortly after the call, an audio archive will be posted on the website for a minimum of 90 days. About Pembina Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically-located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit Forward-Looking Statements and Information This news release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "continue", "anticipate", "will", "expects", "estimate", "potential", "planned", "future", "outlook", "strategy", "project", "plan", "commit", "maintain", "focus", "ongoing", "believe" and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements relating to, without limitation, future dividends which may be declared on Pembina's preferred shares and the timing and the amount thereof. The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news 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 results of operations will be consistent with past performance and management expectations in relation thereto; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; prevailing regulatory, tax and environmental laws and regulations and tax pool utilization; maintenance of operating margins; the amount of future liabilities relating to lawsuits and environmental incidents and the availability of coverage under Pembina's insurance policies (including in respect of Pembina's business interruption insurance policy). Although Pembina believes 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 these 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 that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions, including the outcome of regulatory hearings, and Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; reliance on key relationships, joint venture partners and agreements; labour and material shortages; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities, including changes in tax laws and treatment, the imposition of new tariffs, changes in royalty rates, changes in regulatory processes or increased environmental regulation; the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions, including potential recessions in Canada, North America and worldwide resulting in changes, or prolonged weaknesses, as applicable, in interest rates, foreign currency exchange rates, inflation rates, commodity prices, supply/demand trends and overall industry activity levels; constraints on, or the unavailability of, adequate supplies, infrastructure or labour; the political environment in North America and elsewhere, including changes in trade relations between Canada and the U.S., and public opinion thereon; the ability to access various sources of debt and equity capital; adverse changes in credit ratings; counterparty credit risk; technology and cyber security risks; natural catastrophes; and certain other risks detailed in Pembina's Annual Information Form and Management's Discussion and Analysis, each dated February 27, 2025 for the year ended December 31, 2024, and from time to time in Pembina's public disclosure documents available at and through Pembina's website at
National Post
30-06-2025
- Business
- National Post
Pembina Pipeline Corporation Announces Commencement of Consent and Proxy Solicitation Process for 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1
Article content CALGARY, Alberta — Pembina Pipeline Corporation ('Pembina' or the 'Company') (TSX: PPL; NYSE: PBA) is pleased to announce that it has commenced a solicitation of written consents (the 'Consent Solicitation') and proxies (the 'Proxy Solicitation' and, together with the Consent Solicitation, the 'Solicitation') from holders (the 'Series 1 Noteholders') of Pembina's 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1 due January 25, 2081 (the 'Series 1 Notes'). In connection with the Proxy Solicitation, Pembina has called a meeting of Series 1 Noteholders (the 'Meeting') to be held at 12:15 p.m. (Calgary time) on July 28, 2025 at the offices of Blake, Cassels & Graydon LLP, Suite 3500, 855 –2nd Street S.W., Calgary, Alberta, if the Consent Solicitation fails to obtain the required approval of the Series 1 Noteholders. Article content The purpose of the Solicitation is to seek approval from the Series 1 Noteholders, by way of an extraordinary resolution (the 'Extraordinary Resolution'), of certain proposed amendments (the 'Proposed Amendments') to the indenture dated January 25, 2021 (the 'Series 1 Note Indenture') governing the Series 1 Notes, which Proposed Amendments will provide for, among other things: Article content the addition of an exchange right (the 'Exchange Right') in favour of the Series 1 Noteholders, pursuant to which each Series 1 Noteholder will be entitled to exchange all Series 1 Notes held by such holder for an equal principal amount of a new series of subordinated notes of Pembina (the 'Series 3 Notes'); and the addition of an automatic exchange provision in respect of the Series 1 Notes, pursuant to which, if holders of not less than 66 2/3% of the outstanding aggregate principal amount of the Series 1 Notes have exercised the Exchange Right, then any Series 1 Notes which are outstanding following the effective time of the implementation of the Proposed Amendments and for which a holder of Series 1 Notes has not exercised its Exchange Right shall be automatically exchanged for Series 3 Notes (the 'Automatic Exchange'). Article content Additionally, pursuant to the terms of the Solicitation, Series 1 Noteholders who consent to the Proposed Amendments (whether by written consent or by voting in favour of the Extraordinary Resolution at the Meeting) will also thereby have consented to the exercise of the Exchange Right, subject to the implementation of the Proposed Amendments. Article content If the Proposed Amendments are implemented, those Series 1 Noteholders that did not consent to the Proposed Amendments (whether by written consent or by voting in favour of the Extraordinary Resolution at the Meeting) and thereby did not exercise their Exchange Right may realize a capital gain or capital loss for Canadian income tax purposes on the Automatic Exchange. Article content Details in respect of the Proposed Amendments, including certain Canadian federal income tax considerations, are more fully described in the consent and proxy solicitation statement of Pembina dated June 30, 2025 (the 'Consent and Proxy Solicitation Statement'). A copy of the Consent and Proxy Solicitation Statement will be filed under the Company's profile on SEDAR+ at Article content Description of the Series 3 Notes Article content The Series 3 Notes will be issued as a series of subordinated debt securities of Pembina under the indenture dated June 6, 2025 between the Company, as issuer, and Computershare Trust Company of Canada, as trustee. The Series 3 Notes will have substantially the same economic terms (including interest rate, interest payment dates, interest reset dates, maturity date and redemption provisions) as the Series 1 Notes, but will not provide for an entitlement to delivery of preferred shares upon the occurrence of certain bankruptcy and related events. The absence of provisions for delivery of preferred shares upon the occurrence of certain bankruptcy and related events in the Series 3 Notes will ensure that the holders of Series 3 Notes will rank equally in right of payment with the holders of the outstanding 5.95% Fixed-to-Fixed Rate Subordinated Notes, Series 2 of the Company due June 6, 2055, including upon the occurrence of certain bankruptcy and related events. Article content Overview of the Solicitation Article content The Proposed Amendments are being sought pursuant to the terms of the Series 1 Note Indenture. Pursuant to the Series 1 Note Indenture, to be passed, the Extraordinary Resolution must be approved: (a) by the written consent of the registered holders of not less than 66 2/3% of the aggregate principal amount of outstanding Series 1 Notes pursuant to the Consent Solicitation; or (b) by the affirmative vote of the registered holders of not less than 66 2/3% of the principal amount of outstanding Series 1 Notes represented and voting on a poll at the Meeting. Article content Accordingly, if the Company fails to obtain the required approval of the Series 1 Noteholders pursuant to the Consent Solicitation, Pembina intends to hold the Meeting to consider and, if deemed advisable, pass the Extraordinary Resolution. The Meeting, if required, will be held at 12:15 p.m. (Calgary time) on July 28, 2025 at the offices of Blake, Cassels & Graydon LLP, Suite 3500, 855 –2nd Street S.W., Calgary, Alberta, unless adjourned or postponed. The deadline for the submission of written consents by Series 1 Noteholders is no later than 5:00 p.m. (Calgary time) on July 22, 2025, unless such deadline is extended. The deadline for the submission of proxies for the Meeting, if required, is no later than 12:15 p.m. (Calgary time) on July 24, 2025, unless such deadline is extended or the Meeting is adjourned or postponed. Brokers, dealers or other intermediaries may set deadlines for the return of written consents and proxies from beneficial holders of Series 1 Notes that are in advance of such deadlines. Article content Series 1 Noteholders are urged to read and carefully consider the information contained in the Consent and Proxy Solicitation Statement for the detailed terms of the Solicitation and the procedures for consenting to the Proposed Amendments and exercising the Exchange Right. Article content The implementation of the Proposed Amendments is subject to a number of conditions, including the receipt of the required approval of the Series 1 Noteholders with respect to the Extraordinary Resolution (whether by written consent or by voting in favour of the Extraordinary Resolution at the Meeting) and holders of not less than 66 2/3% of the aggregate principal amount of outstanding Series 1 Notes having exercised the Exchange Right. In addition, Pembina reserves the right, in its sole discretion, to terminate or withdraw the Solicitation for any reason or to amend any of the terms of the Solicitation. Article content This news release does not constitute an offer to sell or the solicitation of an offer to buy the Series 1 Notes or any other securities in any jurisdiction. The Consent and Proxy Solicitation Statement does not constitute a solicitation of consents or proxies in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable securities laws. The Series 3 Notes have not been approved or disapproved by any regulatory authority. The Series 3 Notes have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within the United States or to, or for the account or benefit of, United States persons except in transactions exempt from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws. Article content Copies of the Consent and Proxy Solicitation Statement may be obtained from CIBC Capital Markets, the solicitation agent for the Solicitation. Computershare Investor Services Inc. has been appointed the tabulation agent with respect to the Solicitation. Article content About Pembina Article content Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically-located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit Article content Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Article content Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Article content Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit Article content Forward-Looking Information and Statements Article content This news release contains certain forward-looking statements and forward-looking information (collectively, 'forward-looking statements'), including forward-looking statements within the meaning of the 'safe harbor' provisions of applicable securities legislation that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as 'expect', 'intend', 'will', 'shall', and similar expressions suggesting future events or future performance. Article content In particular, this news release contains forward-looking statements relating to: the expected timing and effect of the Proposed Amendments, the exchange of Series 1 Notes for Series 3 Notes and the Automatic Exchange; Pembina's intentions with respect to the implementation of the Proposed Amendments; the creation and issuance of the Series 3 Notes and the terms thereof; the process and terms of the Solicitation and the Proposed Amendments; and the timing, format and conduct of the Meeting. Article content These forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news release, including: that the required approval of Series 1 Noteholders in respect of the Extraordinary Resolution will be obtained in a timely manner; that the terms and conditions of the Solicitation and the Proposed Amendments will be in the form described in the Consent and Proxy Solicitation Statement; that the exchange of Series 1 Notes for Series 3 Notes and the Automatic Exchange will be completed in the manner consistent with the manner described in the Consent and Proxy Solicitation Statement; the expected impact of the Proposed Amendment and the exchange of Series 1 Notes for Series 3 Notes and Automatic Exchange on the credit ratings in respect of Pembina and its securities; and certain other assumptions in respect of Pembina's forward-looking statements detailed in Pembina's Annual Information Form for the year ended December 31, 2024 (the 'AIF') and Management's Discussion and Analysis for the year ended December 31, 2024 (the 'Annual MD&A'), which were each filed on SEDAR+ on February 27, 2025, in Pembina's Management's Discussion and Analysis for the three months ended March 31, 2025 (the 'Interim MD&A'), which was filed on SEDAR+ on May 8, 2025, and from time to time in Pembina's public disclosure documents available at Article content Article content , Article content and through Pembina's website at Article content . Article content 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: the required approval of Series 1 Noteholders in respect of the Extraordinary Resolution may not be obtained; the timing of the Meeting, the implementation of the Proposed Amendments and the occurrence of the exchange of Series 1 Notes for Series 3 Notes and the Automatic Exchange may be delayed or may not occur at all; the impacts of a changing risk profile and possible subjection to, or continuation of, a credit rating review, which may result in a downgrade or negative outlook being assigned to Pembina or its securities, including the Series 1 Notes; and certain other risks and uncertainties detailed in the AIF, Annual MD&A, Interim MD&A and from time to time in Pembina's public disclosure documents available at and through Pembina's website at Article content Article content Article content Article content Article content Contacts
