Pembina Pipeline Corp. sees earnings rise to $439 million in first quarter
CALGARY — Pembina Pipeline Corp. says it earned $439 million in the first quarter, up from $369 million a year earlier.
The Calgary-based company says its revenue for the quarter ended March 31 was $1.54 billion, down from $1.62 billion during the same quarter last year.
Diluted earnings per common share were 73 cents, up from 61 cents.
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Pembina says it’s increasing its dividend for the second quarter by 3.4 per cent to 69 cents per common share.
On April 1, Pembina closed its $3.1-billion purchase of Enbridge Inc.’s stakes in the Alliance pipeline and Aux Sable gas processing facility.
It also updated its 2024 adjusted EBITDA guidance to between $4.05 billion and $4.30 billion, up from previous guidance of between $3.7 billion and $4.0 billion.
This report by The Canadian Press was first published May 9, 2024.
Companies in this story: (TSX:PPL)
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The Canadian Press