The board of directors of Pembina Pipeline Corporation has declared a May 2013 cash dividend of CAD 0.135 per share to be payable, subject to applicable law, on June 14, 2013 to shareholders of record on May 25, 2013. This dividend is designated an "eligible dividend" for Canadian income tax purposes. For non-resident shareholders, the company's dividends are considered "qualified dividends" and are subject to Canadian withholding tax. The shareholders also approved an amendment to company's articles to create a new class of preferred shares designated as "Class A Preferred Shares", to change the designation and terms of its existing internal preferred shares and to increase the maximum number of directors of company from 11 to 13.

Pembina Pipeline Corporation announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of $1,285.7 million against $475.5 million a year ago. Results from operating activities was $171.8 million against $62.8 million a year ago. Earnings before income tax and equity accounted investees was $121.0 million against $43.3 million a year ago. Earnings and total comprehensive income attributable to shareholders of the company was $90.3 million or $0.30 per diluted share against $32.6 million or $0.19 per diluted share a year ago. Cash flow from operating activities was $229.0 million against $65.3 million a year ago. Capital expenditures was $137.1 million against $54.9 million a year ago. Adjusted EBITDA was $210.2 million against $111.4 million a year ago. Adjusted cash flow from operating activities was $207.4 million or $0.70 per share against $98.8 million or $0.59 per share a year ago.

Pembina Pipeline Corporation (TSX:PPL) is seeking acquisitions. Pembina will use net proceeds from the issuance of Notes for general corporate purposes, to repay indebtedness, or to finance acquisitions, capital expenditures and working capital requirements.