PEMBINA PIPELINE CORPORATION - PBA STOCK NEWS

Pembina Pipeline Corporation (NYSE: PBA) announced that no Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 25 will convert to Series 26 Shares on February 15, 2023. The decision follows a review of conversion notices, revealing less than 1,000,000 Series 25 Shares were tendered by the January 31, 2023 deadline. Pembina, a leading energy transportation and midstream service provider, operates an extensive network of hydrocarbon liquids and natural gas pipelines, contributing to North America's energy industry for over 65 years. For more details, visit pembina.com.

Pembina Pipeline Corporation (NYSE: PBA) announced it will not redeem the outstanding Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 21, on March 1, 2023. Instead, holders can convert these shares into Series 22 Shares on a one-for-one basis. The annual dividend for Series 21 Shares will be 6.302% from March 1, 2023, to March 1, 2028, while Series 22 Shares will have a floating rate of 7.706% for the period ending June 1, 2023. The dividend payable on March 1, 2023, will be $0.30625 per Series 21 Share. Holders must convert their shares by February 14, 2023, to benefit from this option.

Pembina Pipeline Corporation (NYSE: PBA) announced it will not redeem its Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 25, on February 15, 2023. Instead, holders can convert Series 25 Shares to Series 26 Shares at a conversion rate effective the same day. The annual dividend for Series 25 will be set at 6.481%, while Series 26 will feature a floating rate dividend of 7.866% for the first three months. The quarterly dividend for Series 25 will be $0.325 per share, paid to holders of record by January 31, 2023. Additional quarterly dividends for various preferred shares have been declared, with payment dates throughout 2023.

Pembina Pipeline Corporation (TSX: PPL, NYSE: PBA) announced 2023 financial guidance projecting adjusted EBITDA of $3.5 to $3.8 billion, supported by a $730 million investment program entirely funded by cash flow. The sale of Pembina Gas Infrastructure's interest in the Key Access Pipeline System for $662.5 million will strengthen the balance sheet and facilitate debt repayment. The company will focus on optimizing existing assets and pursuing new projects, like the reactivation of the Nipisi Pipeline and expansion at Redwater, to enhance capacity.

Pembina Pipeline Corporation (PBA) has declared a cash dividend of $0.2175 per share for December 2022, payable on December 30, 2022, to shareholders of record by December 15, 2022. This dividend is categorized as an 'eligible dividend' for Canadian income tax. For U.S. shareholders, the expected dividend is approximately $0.1615 per share, subject to currency exchange rates and taxes. Additionally, Pembina plans to transition to quarterly dividends beginning March 2023, pending Board approval.

Pembina Pipeline Corporation (NYSE: PBA) announced a settlement agreement with Ruby Pipeline LLC, which includes a payment of US$102 million. The agreement will release Pembina from various claims related to Ruby's bankruptcy, pending approval from the U.S. Bankruptcy Court in Delaware on January 23, 2023. If approved, Pembina's affiliates will maintain their rights as creditors under the 2026 Subordinated Notes. This settlement could provide clarity and resolution to Pembina's financial involvement with Ruby.

Pembina Pipeline Corporation (NYSE: PBA) has declared a cash dividend of $0.2175 per share for November 2022, payable on December 15, 2022, to shareholders recorded by November 25, 2022. This dividend is considered an "eligible dividend" for Canadian tax purposes. For U.S. investors, the expected dividend is approximately $0.1596 per share, subject to exchange rates and withholding taxes. Pembina plans to transition to quarterly dividends beginning in March 2023, moving away from the current monthly payment structure.

Pembina Pipeline Corporation (PBA) reported strong third-quarter results for 2022, with earnings of CAD 1.8 billion, including a CAD 1.1 billion gain from asset sales. Adjusted EBITDA rose to CAD 967 million, driven by high marketing performance and increased pipeline volumes. The company raised its 2022 adjusted EBITDA guidance to CAD 3.625 - 3.725 billion. Pembina increased its dividend by 3.6% and repurchased 6.3 million common shares since late 2021. Notably, the Ruby Pipeline faced challenges due to bankruptcy, impacting overall contributions. The company remains optimistic about future growth amid strong industry dynamics.

Pembina Pipeline Corporation (NYSE: PBA) announced the redemption of its 12 million issued Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 23 on November 15, 2022, at a price of $25.00 per share, totaling $300 million. This redemption will occur after the final quarterly dividend of $0.328125 on the same date. The company has informed the registered holder of the shares and advised non-registered holders to consult their brokers for redemption procedures.