Pembina Pipeline Stock Price, News & Analysis

Pembina Pipeline Corporation (PBA) announced the voting results from its annual meeting held on May 6, 2022. A total of 320,822,849 common shares, representing 58.13% of outstanding shares, were voted. Key outcomes included the election of 12 directors with favorable votes ranging from 87.99% to 99.70%, the appointment of KPMG LLP as auditors with 87.55% approval, and the continuation of the shareholder rights plan with 94.83% support. Additionally, the executive compensation approach received 88.01% approval.

Pembina Pipeline Corporation (PBA) has declared a cash dividend of $0.21 per common share for May 2022, payable on June 15, 2022, to shareholders of record by May 25, 2022. This dividend qualifies as an 'eligible dividend' for Canadian tax purposes, while non-resident shareholders may face Canadian withholding tax. For those receiving dividends in U.S. funds, the amount is expected to be around $0.1639 per share, subject to exchange rate fluctuations. Pembina is a leading energy transportation provider in North America.

Pembina Pipeline Corporation (PBA) reported strong first quarter 2022 results, showcasing earnings of $481 million, a 50% increase from the previous year. Adjusted EBITDA reached a record $1 billion, up 20%, driven by high natural gas liquids and crude oil prices. The company raised its 2022 adjusted EBITDA guidance to between $3.45 billion and $3.6 billion. Key developments include expanding the Peace Pipeline and a long-term agreement with a Montney producer. The Alberta Carbon Grid project has been selected to advance carbon capture initiatives, reflecting Pembina's commitment to sustainability.

Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) announced a cash dividend of $0.21 per common share for April 2022, payable on May 13, 2022, to shareholders of record on April 25, 2022. For non-residents, the expected dividend in U.S. funds is approximately $0.1687 per share. Additionally, various quarterly preferred share dividends were declared, with amounts ranging from $0.268875 to $0.328125. Pembina will also release its first-quarter 2022 results on May 5, 2022, followed by a conference call on May 6, 2022.

Ruby Pipeline, a joint venture between Kinder Morgan and Pembina Pipeline Corporation, has filed for Chapter 11 bankruptcy due to an impending debt repayment obligation. Despite the filing, KMI will manage the pipeline's operations, ensuring no disruption for customers. The voluntary petition was submitted to the Bankruptcy Court in Delaware, with ongoing negotiations with bondholders expected. Stakeholders will remain informed through updates related to Ruby's reorganization.

Pembina Pipeline Corporation (PBA) announced the renewal of its normal course issuer bid (NCIB) to repurchase up to 27,518,100 common shares, equating to 5% of outstanding shares. The buyback, approved by the Toronto Stock Exchange, begins on March 10, 2022, and ends no later than March 9, 2023. Pembina aims to enhance shareholder value, believing its shares may trade below intrinsic value. The company repurchased 450,000 shares at an average price of $37.77 under the previous NCIB, indicating ongoing commitment to returning value to shareholders.

Pembina Pipeline Corporation has declared a cash dividend of $0.21 per common share for March 2022, scheduled for payment on April 14, 2022, to shareholders of record as of March 25, 2022. This dividend is classified as an "eligible dividend" for Canadian tax purposes. For U.S. shareholders, the dividend is expected to be approximately U.S. $0.1658 per share, subject to exchange rates and withholding tax. Pembina aims to provide reliable infrastructure solutions and has served the North American energy sector for over 65 years.

Pembina Pipeline Corporation (TSX: PPL, NYSE: PBA) has entered into a joint venture with KKR to combine natural gas processing assets, creating a new entity, Newco, owned 60% by Pembina and 40% by KKR. Valued at $11.4 billion, Newco will enhance operational efficiencies and customer service across western Canada. Pembina expects $700 million in cash proceeds, primarily for debt repayment and share repurchases, alongside a 3.6% dividend increase. The closing is anticipated by Q2/Q3 2022, pending regulatory approvals.

Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) has filed its audited consolidated financial statements and related documents for the year ended December 31, 2021. These filings include management's discussion and analysis and its annual information form with Canadian securities regulators, along with Form 40-F submitted to the U.S. SEC. Investors can access these documents on various platforms including sedar.com and sec.gov.