Inter Pipeline increases dividend to 14.25 cents
INTER PIPELINE Ltd.’s board of directors has approved a 1.8-per-cent increase to the company’s monthly cash dividend from 14 cents to 14.25 cents per share. Inter Pipeline has increased its dividend for 10 consecutive years.
On an annualized basis, dividends will increase by three cents per share from $1.68 to $1.71. Shareholders of record as of Nov. 22, 2018, will be eligible for Inter Pipeline’s new monthly dividend rate of 14.25 cents per share, with payment expected on or about Dec. 14, 2018. Inter Pipeline’s dividend payments to shareholders are designated as eligible dividends for Canadian tax purposes.
“Over the past decade, Inter Pipeline has provided reliable dividend growth for its shareholders while maintaining a conservative payout ratio and strong balance sheet,” commented Christian Bayle, president and chief executive officer. “This dividend increase demonstrates our continued confidence in Inter Pipeline’s future despite the challenging times faced by Canada’s energy industry.”
Since inception, Inter Pipeline has distributed approximately $5.0-billion in cash payments to investors.
About Inter Pipeline Ltd.
Inter Pipeline is a major petroleum transportation, natural gas liquids processing and bulk liquid storage business based in Calgary, Alta., Canada. Inter Pipeline owns and operates energy infrastructure assets in Western Canada and Europe.
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Christian P Bayle, Lorne Easton Brown, David William Fesyk, Duane Edwin Keinick, Alison Taylor Love, Margaret Anne McKenzie, William David Robertson, Brant G Sangster, Richard Shaw
(IPL) Shares: 390,171,688