Pembina Pipeline Corporation Declares July 2020 Common Share Dividend, Quarterly Preferred Share Dividend and Announces Second Quarter 2020 Results Conference Call and Webcast

CALGARY, Alberta, July 6, 2020 /PRNewswire/ -- Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) announced today that its Board of Directors has declared a common share cash dividend for July 2020 of $0.21 per share to be paid, subject to applicable law, on August 14, 2020 to shareholders of record on July 24, 2020. The common share dividends are designated "eligible dividends" for Canadian income tax purposes. For non-resident shareholders, Pembina's common share dividends should be considered "qualified dividends" and may be subject to Canadian withholding tax.

For shareholders receiving their common share dividends in U.S. funds, the July 2020 cash dividend is expected to be approximately U.S. $0.1548 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7372. 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, 11, 13, 15, 17, 19, 21, 23 and 25. Series 1, 3, 5, 7, 9, 11, 13 and 21 preferred share dividends are payable on September 1, 2020 to shareholders of record on August 4, 2020. Series 15, 17 and 19 preferred share dividends are payable on September 30, 2020 to shareholders of record on September 15, 2020. Series 23 and 25 preferred share dividends are payable on August 17, 2020 to shareholders of record on July 31, 2020.

Preferred Shares, Series 1   (PPL.PR.A)	$0.306625
Preferred Shares, Series 3   (PPL.PR.C)	$0.279875
Preferred Shares, Series 5   (PPL.PR.E)	$0.285813
Preferred Shares, Series 7   (PPL.PR.G)	$0.273750
Preferred Shares, Series 9   (PPL.PR.I)	$0.296875
Preferred Shares, Series 11 (PPL.PR.K)