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Pembina Pipeline Corporation (symbol: PBA) is a leading transportation and midstream service provider that has been a stalwart player in North America's energy sector for over 60 years. Based in Calgary, Alberta, Pembina owns and operates pipelines that transport a variety of hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil, oil sands products, condensate (diluent), and natural gas liquids produced in Western Canada.
Pembina's extensive asset base does not just comprise pipelines; it also includes gas gathering and processing facilities, and an oil and natural gas liquids infrastructure and logistics business. With strategically located facilities in Western Canada and significant markets in Eastern Canada and the U.S., Pembina offers an integrated suite of midstream and marketing services across the hydrocarbon value chain.
Recent Achievements: Pembina recently expanded its asset portfolio by acquiring a 50% interest in the Alliance Pipeline and a 42.7% interest in Aux Sable from Enbridge Inc. for $3.1 billion. This acquisition is a milestone that strengthens Pembina's position in the market and aligns with its strategic growth plans.
In addition to its physical assets, Pembina boasts a team of experienced professionals dedicated to creating investor value through operational excellence and strategic partnerships. Pembina's integrated assets and commercial operations enable the company to offer essential services to the energy sector, making it a crucial player in North America's energy infrastructure.
Pembina's financial condition remains robust, supported by diverse revenue streams and efficient operations. The company is well-positioned to meet the evolving needs of the energy market, driven by a commitment to reliability and sustainability.
For more detailed and the latest updates, you can always check the latest news and press releases directly on Pembina’s official website or through financial news platforms.
Pembina Pipeline Corporation (PBA) announced an approval from the Toronto Stock Exchange to initiate a normal course issuer bid (NCIB) to repurchase up to 5% of its outstanding shares, totaling approximately 27.5 million shares. The NCIB will commence on March 2, 2021, and conclude on March 1, 2022, or when the maximum shares are acquired. This repurchase aims to enhance shareholder value, as Pembina believes its shares may trade below their intrinsic worth. Purchases will be made through various exchanges at market price, with a focus on maintaining financial performance.
Pembina Pipeline Corporation reported its fourth-quarter and full-year 2020 financials, highlighting resilience amidst the pandemic. Q4 adjusted EBITDA reached a record $866 million, up 10% year-over-year, while the full-year figure was $3.281 billion, a 7% increase. Despite these gains, the company faced a Q4 loss of $1.216 billion due to significant impairment charges. Full-year cash flow from operating activities totaled $2.252 billion, down 11%, with dividends per share increasing to $2.52. Looking ahead, Pembina anticipates a favorable 2021 driven by recovering global energy demand.
Pembina Pipeline Corporation (PBA) declared a cash dividend of $0.21 per common share for February 2021, with payment scheduled for March 15, 2021, to shareholders on record by February 25, 2021. The dividend is classified as an 'eligible dividend' for Canadian tax purposes. U.S. shareholders can expect approximately $0.1638 per share before taxes. Pembina follows a monthly dividend payment policy, with records set on the 25th of each month (excluding December). The firm is a key player in the North American energy sector, offering integrated midstream services.
Pembina Pipeline Corporation has successfully closed its offering of $600 million in 4.80% Fixed-to-Fixed Rate Subordinated Notes, due January 25, 2081. The proceeds will be used to redeem 6.8 million Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares (Series 11) at a total price of $170 million on March 1, 2021. The final dividend of $0.359375 per Series 11 Share will also be paid on the same date. This offers investors a significant strategic move in managing its debt and optimizing capital.
Pembina Pipeline Corporation (PBA) announced the launch of an open season for binding commitments to transport light condensate on the Cochin Pipeline. The open season commenced on January 19, 2021, at 8:00 a.m. MST and will conclude on February 18, 2021, at 5:00 p.m. MST. Pembina has been a key player in North America's energy industry for over 65 years, owning an integrated system of pipelines and midstream services. The company aims to enhance its infrastructure development to connect hydrocarbon production to global markets.
Pembina Pipeline Corporation (PBA) announced a $600 million offering of 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1, due January 25, 2081. The offering is expected to close on or about this date, pending customary conditions. Proceeds will primarily be used to redeem outstanding Series 11 and Series 13 Preferred Shares, repay debt, and for general corporate purposes. The offering is managed by a syndicate including RBC Capital Markets and Scotiabank. Note that these notes are not registered under U.S. securities laws.
Pembina Pipeline Corporation (PBA) announced on January 11, 2021, that it is considering an offering of hybrid subordinated debt securities. The potential proceeds will be used to redeem outstanding preferred shares, repay other debts, and for general corporate purposes. However, the completion of the offering is uncertain, alongside terms and timing. The hybrid securities won't be registered in the U.S. and thus cannot be sold within the country. Pembina remains focused on connecting hydrocarbon production to emerging markets while navigating various operational risks.
Pembina Pipeline Corporation (PBA) has declared a common share cash dividend of $0.21 per share for January 2021, payable on February 12, 2021, to shareholders of record on January 25, 2021. Additionally, dividends for various preferred shares are announced, with payment dates ranging from March 1 to February 16. The January dividend for U.S. shareholders is approximately $0.1653 before taxes. Pembina will also release its fourth-quarter results on February 25, 2021, with a conference call scheduled for the following day.
Pembina Pipeline Corporation has announced its 2021 financial guidance, forecasting adjusted EBITDA between $3.2 billion and $3.4 billion, supported by a capital investment program of $785 million. The reactivation of Phase VII Peace Pipeline Expansion and Empress Co-generation Facility projects is confirmed. However, the ongoing COVID-19 pandemic has led to the indefinite suspension of its joint venture petrochemical facility due to significant risks. The company's anticipated cash flow from operations is expected to allow for discretionary cash generation for debt reduction or share repurchases.
Pembina Pipeline Corporation (TSX: PPL, NYSE: PBA) announced a cash dividend of $0.21 per share for December 2020, payable on January 15, 2021, to shareholders of record as of December 31, 2020. This dividend is recognized as an 'eligible dividend' for Canadian tax purposes and approximately $0.1641 per share for U.S. shareholders, subject to withholding tax. Pembina plans to continue its monthly dividend payments, confirming its commitment to returning value to shareholders.
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