Pembina Pipeline Corp. (TSE:PPL) has released an update.
Pembina Pipeline Corporation has announced it will not redeem its Series 5 Preferred Shares and has set new dividend rates for these shares at 6.814% for the next five years, based on the current government bond yield. Investors have the option to convert their Series 5 Shares into floating rate Series 6 Shares by May 17, 2024, which will then receive dividends at a rate of 7.940% for the initial three months. The conversion is subject to certain conditions, including a minimum number of shares remaining post-conversion.
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