Pembina Pipeline Corporation Declares July Common Share Dividend, Quarterly Preferred Share Dividends and Announces Second Quarter 2016 Results Conference Call and Webcast Details

CALGARY, Alberta, July 7, 2016 /PRNewswire/ -- Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that its Board of Directors declared a common share cash dividend for July 2016 of $0.16 per share to be paid, subject to applicable law, on August 15, 2016 to shareholders of record on July 25, 2016.

For shareholders receiving their common share dividends in U.S. funds, the July 2016 cash dividend is expected to be approximately U.S. $0.1235 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7717. The actual U.S. dollar dividend will depend on the Canadian/U.S. dollar exchange rate on the payment date and will be subject to applicable withholding taxes.

Pembina's Board of Directors also declared quarterly dividends for the Company's preferred shares, Series 1, 3, 5, 7, 9 and 11, and an initial dividend on the Series 13 Preferred Shares. Future dividends on the Series 13 Preferred Shares are expected to be $0.359375 quarterly, or $1.4375 per share on an annualized basis for the initial fixed rate period to but excluding June 1, 2021. All preferred share dividends are payable on September 1, 2016 to shareholders of record on August 1, 2016.

Series				Dividend Amount
Preferred Shares, Series 1   (PPL.PR.A)				$0.265625
Preferred Shares, Series 3   (PPL.PR.C)				$0.293750
Preferred Shares, Series 5   (PPL.PR.E)				$0.312500
Preferred Shares, Series 7   (PPL.PR.G)				$0.281250