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CALGARY, Alberta – Pembina Pipeline Corporation (“Pembina” or the “Company”) ( TSX: PPL ; NYSE: PBA ) announced today its financial and operating results for the first quarter of 2023. Highlights First Quarter Results – reported earnings of $369 million and adjusted EBITDA of $947 million. Common Share Dividend Increase – the board of directors declared a common share cash dividend for the second quarter of 2023 of $0.6675 per share, representing an increase of 2.3 percent, to be paid, subject to applicable law, on June 30, 2023, to shareholders of record on June 15, 2023. KAPS – the sale of Pembina Gas Infrastructure’s (“PGI”) interest in the Key Access Pipeline System (“KAPS”) was completed on April 26, 2023. Cedar LNG – during the quarter, Cedar LNG received its Environmental Assessment Certificate from the British Columbia Environmental Assessment Office and a positive Decision Statement from the federal Minister of Environment and Climate Change. Guidance – reiterated 2023 adjusted EBITDA guidance range of $3.5 billion to $3.8 billion. Strong Balance Sheet – at March 31, 2023 the ratio of proportionately consolidated debt-to-adjusted EBITDA was 3.6 times and Pembina expects to exit the year with a ratio of 3.3 to 3.6 […]
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