Midstream operator Pembina Pipeline (NYSE: PBA) announced yesterday its monthly dividend for May 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" and are subject to Canadian withholding tax.
The May dividend for U.S. shareholders will be $0.134 per share based on a currency exchange rate of 0.9893.
The board of directors said the quarterly dividend is payable on June 14 to the holders of record at the close of business on May 25. Pembina has paid monthly dividends since October 2010 and has increased them every year.
The current dividend payment equates to a $1.62-per-share annual dividend yielding 4.8% based on the closing price of Pembina Pipeline's stock on May 13.