Pembina holders chose to keep, not convert series 17 preferred shares

Chicago, March 18 – Pembina Pipeline Corp. said that none of its series 17 cumulative redeemable rate reset class A preferred shares will be converted into series 18 cumulative redeemable floating-rate class preferred shares.

Less than 1 million of series 17 shares were tendered, not enough to trigger a conversion, according to a press release.

The conversion period for elections started on March 1 and ends at 5 p.m. ET on March 18.

The conversion date would have been March 31.

The annual dividend rate for the series 17 shares from March 31, 2024 to March 31, 2029 will be 6.605%, as previously reported.

Calgary, Alta.-based Pembina Pipeline is a transportation and midstream service provider to the energy industry.

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