Pembina Pipeline Corp. (TSE:PPL) has released an update.
Pembina Pipeline Corporation has opted not to redeem its Series 5 Preferred Shares and announces a reset dividend rate for these shares at 6.814 percent for the next five years, starting June 1, 2024. Shareholders have the option to convert their Series 5 Shares into Series 6 Floating Rate Shares before the May 17, 2024 deadline, with a floating dividend rate starting at 7.940 percent. The company emphasizes that this conversion is subject to certain conditions, including minimum outstanding share quantities post-conversion.
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