Midstream operator Pembina Pipeline (NYSE:PBA) announced yesterday its monthly dividend for July, of $0.135 per share, which is designated an "eligible dividend" for Canadian income tax purposes. For non-resident shareholders, Pembina's dividends are considered "qualified dividends," subject to Canada's withholding tax.
The July dividend for U.S. shareholders will be $0.13 per share based on a currency exchange rate of 0.9514.
The board of directors said the dividend is payable on Aug. 15 to the holders of record at the close of business on July 25. Pembina has paid monthly dividends since October 2010, and has increased them every year.
The midstream operator's board also said it will release its second quarter results on Friday, Aug. 9, with a conference call to follow on Monday, Aug. 12.
The current dividend payment equates to a $1.62-per-share annual dividend yielding 5%, based on the closing price of Pembina Pipeline's stock on July 11.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.