Past year: ▲ 24%(52.29 – 68.54 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Jan 2014dividend declaration● Neutral
Pembina declared its January 2014 common dividend of $0.14 per share, payable February 14 to holders of record on January 25. It also declared its first regular quarterly preferred dividends: $0.265625 per Series 1 share and $0.29375 per Series 3 share, payable March 1, 2014 to holders of record on February 1.
10 Dec 2013dividend declaration● Neutral
Pembina declared its December 2013 common dividend of $0.14 per share, payable January 15, 2014 to holders of record on December 31, 2013, unchanged.
6 Nov 2013dividend declaration● Neutral
Pembina declared its November 2013 common dividend of $0.14 per share, payable December 15, 2013 to holders of record on November 25, unchanged from the prior month.
9 Oct 2013dividend declaration● Neutral
Pembina declared the first dividends on the two new preferred share series: $0.3726 per Series 1 share (for July 26 to Nov 30, 2013) and $0.1932 per Series 3 share (for Oct 2 to Nov 30, 2013), both payable Dec 1, 2013 to holders of record Nov 1. Future preferred dividends are expected at $0.265625 a quarter for Series 1 and $0.29375 a quarter for Series 3. The October common dividend stays at $0.14, payable Nov 15 to holders of record Oct 25.
2 Oct 2013capital raising announcement● NeutralMajor
Pembina closed a public offering of 6,000,000 Series 3 preferred shares for gross proceeds of $150 million, first announced September 23, 2013. The shares trade on the TSX as PPL.PR.C. Proceeds are to partly fund capital projects, reduce short-term debt and for general corporate purposes. This follows the $250 million Series 1 preferred offering in July.
9 Sept 2013dividend declaration● Neutral
Pembina declared its September 2013 dividend of $0.14 per share, payable October 15, 2013 to holders of record on September 25. This continues the rate set in the August increase from $0.135.
4 Sept 2013business combination▲ GoodMajor
Pembina bought a site in Alberta's Industrial Heartland for about $20 million, funded from existing credit facilities, to build rail, terminalling and storage facilities (the Heartland Hub). The site has 232 acres, over 5,000 feet of rail track, and sits near its Redwater site; the Hub extends its Nexus terminal. Pembina also signed a multi-year deal with a major North American refiner to load crude oil railcars at the terminal, up to 40,000 barrels per day, starting immediately.
12 Aug 2013dividend declaration▲ GoodMajor
Pembina raised its monthly dividend 3.7%, from $0.135 to $0.14 per common share, and declared the $0.14 dividend payable September 13, 2013 to holders of record on August 25. This is the first change since the increase to $0.135 at the April 2012 Provident closing.
26 July 2013capital raising announcement● NeutralMajor
Pembina closed a public offering of 10,000,000 Series 1 preferred shares at $25.00 each, for $250 million gross, including the underwriters' option for 2,000,000 shares exercised in full. The offering was first announced July 17, 2013; the shares trade on the TSX as PPL.PR.A. Proceeds are to partly fund capital projects, reduce short-term debt and for general corporate purposes. This adds a new class of preferred shares ranking alongside the common shares.
8 Apr 2013dividend declaration● Neutral
Pembina declared its April 2013 dividend of $0.135 per share, payable May 15, 2013 to holders of record on April 25, unchanged. It also opened its dividend reinvestment plan to U.S. shareholders, who can reinvest dividends into new shares issued at a 5% discount to the average market price.
21 Mar 2013capital raising announcement● NeutralMajor
The share offering closed with 11,206,750 shares sold at $30.80, including the full over-allotment of 1,461,750 shares, for gross proceeds of about $345 million. This completes the March 12 bought deal; proceeds are to reduce short-term debt used for the capital program and for general corporate purposes. Buyers of record on March 25 get the April 15 dividend.
13 Mar 2013capital raising announcement● NeutralMajor
Pembina agreed to sell 9,745,000 new common shares at $30.80 each to underwriters, for about $300 million (up to $45 million more if an over-allotment option is used). The money is to partly fund capital projects (Saturn I and II, Resthaven, pipeline expansions, Redwater fractionator twinning) and reduce short-term debt used for the capital program. New shares dilute existing holders; closing was expected around March 21, 2013.
9 Jan 2013dividend declaration● Neutral
Pembina declared its January 2013 dividend of $0.135 per share, payable February 15, 2013 to holders of record on January 25, unchanged. CEO Bob Michaleski is scheduled to present at conferences in London (January 14) and Whistler (January 24).
7 Dec 2012dividend declaration● Neutral
Pembina declared its December 2012 dividend of $0.135 per share, payable January 15, 2013 to holders of record on December 31, 2012, unchanged.
8 Nov 2012dividend declaration● Neutral
Pembina declared its November 2012 dividend of $0.135 per share, payable December 14, 2012 to holders of record on November 25, unchanged. CEO Bob Michaleski is to join a panel at a Scotiabank conference on November 15.
17 Oct 2012capital raising announcement● NeutralMajor
Pembina agreed to sell $450 million of senior unsecured medium-term notes at 3.77% a year, maturing October 24, 2022, with closing expected October 22, 2012. The proceeds are to repay part of its existing credit facility, which was expanded to $1.5 billion at the Provident closing. S&P and DBRS each gave preliminary BBB ratings.
11 Oct 2012dividend declaration● Neutral
Pembina declared its October 2012 dividend of $0.135 per share, payable November 15, 2012 to holders of record on October 25, unchanged.
7 Sept 2012dividend declaration● Neutral
Pembina declared its September 2012 dividend of $0.135 per share, payable October 15, 2012 to holders of record on September 25, unchanged from prior months. The CFO is scheduled to present at two investor conferences in Toronto on September 12 and 13.
10 Aug 2012dividend declaration● Neutral
Pembina declared its August 2012 dividend of $0.135 per share, payable September 14, 2012 to holders of record on August 25. This matches the rate set after the Provident acquisition.
2 May 2012business combination● Neutral
This is the formal business acquisition report for the Provident deal that closed April 2, 2012. It says former Pembina holders own about 59% of the shares and former Provident holders about 41%. It also includes unaudited pro forma figures for 2011: combined total assets of about $8.15 billion and combined earnings of about $192.8 million. The filing says Pembina has no plans for material business changes beyond those caused by the deal.
2 Apr 2012business combination▲ GoodMajor
Pembina finished buying Provident Energy Ltd. on April 2, 2012, in a deal valued at about $3.8 billion. Provident shareholders got 0.425 of a Pembina share per Provident share, Pembina took over Provident's 5.75% convertible debentures (due 2017 and 2018), and Pembina's shares began trading on the NYSE as PBA. The monthly dividend rose from $0.13 to $0.135 per share, and the credit facility was increased from $800 million to $1.5 billion for 5 years.
