Pembina Pipeline Corporation Announces Renewal of Normal Course Issuer Bid

Strategic Insights -

Pembina Pipeline Corporation ("Pembina" or the "Company") has announced the renewal of its normal course issuer bid (the "NCIB") to purchase up to five percent of its issued and outstanding common shares. This move allows the Company to repurchase up to 29,045,408 common shares, which is five percent of its 580,908,170 outstanding common shares. Pembina intends to use this opportunity to acquire common shares at a price that may not adequately reflect their underlying value, believing that the repurchase may represent an attractive use of the Company's financial resources.

Key Takeaways:

  • Pembina Pipeline Corporation has renewed its normal course issuer bid (NCIB) to purchase up to five percent of its issued and outstanding common shares.
  • The NCIB allows Pembina to repurchase up to 29,045,408 common shares, which is five percent of its 580,908,170 outstanding common shares.
  • Common shares purchased under the NCIB will be cancelled, with Pembina limiting daily purchases to no more than 25 percent of the six-month average daily trading volume on the TSX.
  • Pembina has entered into an automatic purchase plan with a broker, which will enable the Company to purchase common shares on the open market during self-imposed blackout periods.
  • The NCIB will be made through open market purchases at the prevailing market price.
  • Pembina's prior NCIB for the purchase of up to 28,976,578 common shares expires on May 15, 2025.

Statistics:

  • Pembina Pipeline Corporation has 580,908,170 outstanding common shares.
  • The Company is permitted to repurchase up to 29,045,408 common shares, representing five percent of its outstanding common shares.
  • Pembina has entered into an automatic purchase plan with a broker under the NCIB.
  • The six-month average daily trading volume of the common shares on the TSX from November 1, 2024, to April 30, 2025, was 3,229,694 common shares.
  • Pembina will limit daily purchases under the NCIB to no more than 25 percent of the six-month average daily trading volume on the TSX.

Sources:

  • Business Wire, "Pembina Pipeline Corporation Renews Normal Course Issuer Bid" (Accessed May 14, 2025): https://www.businesswire.com/news/home/20250514990175/en/
  • Pembina Pipeline Corporation, "Annual Information Form and Management's Discussion and Analysis" (Dated February 27, 2025): https://www.pembina.com/About-Us/Financials/Annual-Reports-and-Proxy-Statements
  • Pembina Pipeline Corporation, "Press Release" (Dated May 14, 2025): https://www.pembina.com/About-Us/News/Pages/Default.aspx