Pembina Pipeline renews share repurchase program

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• Pembina Pipeline (NYSE:PBA) announced that the Toronto Stock Exchange approved the renewal of Pembina's normal course issuer bid to purchase up to 5% of its outstanding shares.
• As of Feb. 28, 2022, Pembina had 550.4M shares outstanding and is, therefore, permitted to repurchase up to 27.5M shares (5% of outstanding shares).
• Purchases may be made from Mar.10, 2022 and expiring on the earlier of Mar.9, 2023.
• Pembina's prior NCIB for the purchase of up to 27.5M shares expired on Mar.1, 2022.
• Last week, the company declared C$0.21/share monthly dividend.

Comments

[aussyspitz]

I'm not sure I like this they are purchasing when both oil and share prices are high they should have started the repurchase program in November 2020 imo

[Apsco60]

@aussyspitz I don't disagree but the shares yield 5.5% and the debt yields 3.8%. They save cashflow from buying common stock at least.

[Senna2002]

@aussyspitz Yes of course they should have known there was going to be a war involving the third largest oil producer and bought in November. Heck they should have been buying back shares in March 2020 during Covid too.