Pembina Pipeline Raises Monthly Dividend
Midstream operator Pembina Pipeline announced today its monthly dividend for August of $0.14 per share, a 3.7% increase from the payout it had paid investors last month of $0.135 per share. The dividend is designated an "eligible dividend" for Canadian income tax purposes. For non-resident shareholders, Pembina's dividends are considered "qualified dividends," subject to Canada's withholding tax.
The July dividend for U.S. shareholders will be $0.136 per share, based on a currency exchange rate of 0.9706.
The board of directors said the quarterly dividend is payable on Sept. 13 to the holders of record at the close of business on Aug. 25. The regular dividend payment equates to a $1.63-per-share annual dividend, yielding 5.3% based on the closing price today of Pembina Pipeline's stock.
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