BRIEF-Pembina pipeline announces acquisition of strategic midstream assets for $556 mln

Thu Mar 17, 2016 4:50pm EDT
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March 17 (Reuters) - Pembina Pipeline Corp

* Says Pembina pipeline corporation announces acquisition of strategic midstream assets for $556 million and a dividend increase

* Says transaction is expected to be immediately accretive to cash flow per share

* Says has agreed to fund a debottlenecking initiative supporting Kakwa assets, for approximately $35 million

* Says Board of directors has approved a monthly common share dividend increase of $0.0075 per common share

* Says dividend increase from $0.1525 per common share to $0.16 per common share denotes a 4.9 percent increase

* Says transaction will add 250 million cubic feet per day ("mmcf/d") of processing capacity in one of pembina's core areas Source text for Eikon: Further company coverage: