Pembina Announces October 2009 Distribution
Pembina's strong record of achievement and established reputation of delivering stable and reliable distributions to Unitholders is supported by premium energy infrastructure assets, diversified services, strategic expansions and additions, prudent financial management, and strong stakeholder relationships.
Pembina's proven business strategy, premium assets and growth prospects are expected to continue to produce solid, sustainable results which, based on internal projections and certain assumptions, will support the Fund's commitment to maintain its current distribution level of
A component of the Fund's cash distributions is taxable in the hands of the Unitholder, with the remaining portion a return of capital, unless held in a tax-deferred account. Pembina estimates 75 percent of the 2009 distributions will be taxable and 25 percent will be a return of capital for Canadian tax purposes. Pembina's distributions are subject to current domestic tax laws which require a withholding tax from distribution income to nonresidents of
For eligible investors, the Fund offers a DRIP, which provides Unitholders with a convenient and economical way to maximize their investment in Pembina. Further details and enrollment forms for the DRIP are available on Pembina's website at www.pembina.com under the heading "Investors".
The Fund is among the leading issuers in the Canadian energy infrastructure trust sector. Pembina's extensive network of conventional liquids feeder pipelines, and growing presence in the oil sands, heavy oil, midstream and gas services sectors, provide an integral service to the western Canadian energy industry. This balanced portfolio of premium, long-life energy infrastructure assets supports the stability and sustainability of the Fund.
Forward-Looking Information and Statements
This news release contains certain forward-looking information and statements that are based on the Fund's and Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as "will", "expects", "estimate", "projects", "expansion", and similar expressions.
In particular, this news release contains forward-looking statements, including certain financial outlook, regarding the possible conversion of Pembina to a corporate form prior to
These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners, alliances and agreements; the strength and operations of the oil and natural gas production industry and related commodity prices; the continuation or completion of third party projects; regulatory environment and inability to obtain required regulatory approvals; tax laws and treatment; fluctuations in operating results; the ability of Pembina to raise sufficient capital to complete future projects and satisfy future commitments; construction delays; labour and material shortages; and certain other risks detailed from time to time in the Fund's public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in the Fund's annual information form for the year ended
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. The Fund does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. Management of the Fund approved the financial outlook contained herein as of the date of this news release. The purpose of the financial outlook contained herein is to give the reader an indication of the potential effects to Unitholders of a possible conversion of Pembina to corporate form. Readers should be aware that the information contained in the financial outlook contained herein may not be appropriate for other purposes.
For further information: Glenys Hermanutz, Vice President, Corporate Affairs, Pembina Pipeline Corporation, (403) 231-7500, 1-888-428-3222, e-mail: email@example.com