Welcome to our dedicated page for PEMBINA PIPELINE CORPORATION news (Ticker: PBA), a resource for investors and traders seeking the latest updates and insights on PEMBINA PIPELINE CORPORATION stock.
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 (TSX: PPL; NYSE: PBA) announced the renewal of its normal course issuer bid (NCIB) to repurchase up to five percent of its issued and outstanding common shares.
This renewal, approved by the Toronto Stock Exchange, allows Pembina to buy back up to 28,976,578 common shares between May 16, 2024, and May 15, 2025. As of May 8, 2024, Pembina had 579,531,577 common shares outstanding.
The repurchased shares will be cancelled. Pembina believes that its shares sometimes trade below their intrinsic value, making repurchases an efficient use of financial resources.
The number of shares repurchased will depend on financial performance, cash availability, and other investment opportunities. Pembina’s previous NCIB expired on March 9, 2024, under which it repurchased 1,197,432 shares at an average price of $41.76 per share.
Pembina Pipeline reported the voting results from its annual meeting of common shareholders, with a total of 549,576,825 common shares voted. The election of directors, appointment of auditors, and acceptance of the company's approach to executive compensation were successfully approved.
Pembina Pipeline reported strong financial results for the first quarter of 2024, including record quarterly adjusted EBITDA of $1,044 million. The company raised its 2024 adjusted EBITDA guidance range, signed long-term agreements, and made progress on key projects like the Cedar LNG project. Additionally, Pembina increased its quarterly common share dividend by 3.4%.
Pembina Pipeline announced that it will not redeem its Series 5 Preferred Shares and holders will have the option to convert them into Series 6 Shares. The annual dividend rates for the Series 5 and Series 6 Shares were also disclosed.
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