CALGARY, AB, June 9, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today the declaration of a cash dividend of $0.04 per share for June 2020. This dividend will be paid on or about July 15, 2020 to shareholders of record on June 22, 2020. This dividend is designated as an “eligible dividend” for Canadian tax purposes.

Since inception, Inter Pipeline has distributed approximately $6 billion in cash payments to investors. Inter Pipeline’s objective is to provide investors with sustainable monthly cash dividends, with dividend growth upside tied to the development of Inter Pipeline’s portfolio … Continue Reading

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CALGARY, May 28, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today that it has agreed to issue $700 million of senior unsecured medium-term notes in the Canadian public debt market. The notes will have a fixed interest rate of 4.232% per annum, payable semi-annually, and will mature on June 1, 2027.

The offering is expected to close on June 1, 2020. Inter Pipeline will use the net proceeds of the offering to repay indebtedness under its $1.5 billion… Continue Reading

CALGARY, May 11, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today the voting results from its annual and special virtual-only meeting of shareholders (the “Meeting”) held May 7, 2020 in Calgary, Alberta. Shareholders were asked to vote on several proposals as described in detail in Inter Pipeline’s Management Information Circular dated March 16, 2020.

A total of 175,616,121 common shares representing 41.28% of Inter Pipeline’s issued and outstanding shares were voted in person or by proxy in connection with the Meeting.

Election of Directors

Inter Pipeline is pleased to announce that all board … Continue Reading

CALGARY, May 7, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today the declaration of a cash dividend of $0.04 per share for May 2020. This dividend will be paid on or about June 15, 2020 to shareholders of record on May 25, 2020. This dividend is designated as an “eligible dividend” for Canadian tax purposes.

Since inception, Inter Pipeline has distributed approximately $6 billion in cash payments to investors. Inter Pipeline’s objective is to provide investors with sustainable monthly cash dividends, with dividend growth upside tied to the development of Inter Pipeline’s portfolio of … Continue Reading

CALGARY, May 7, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) today announced financial and operating results for the three-month period ended March 31, 2020.

First Quarter Highlights

Funds from operations (FFO) totalled $208 million

Oil sands transportation FFO of $155 million, a five percent increase over first quarter 2019

Net income for the quarter was $89 million

Declared cash dividends of $181 million

Quarterly payout ratio* of 87 percent

Total pipeline throughput volume averaged 1,527,800 barrels per day (b/d), a 10 percent increase over first quarter 2019

Bulk liquid storage utilization averaged 95 percent

… Continue Reading

CALGARY, April 24, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today that it has entered into a new $1 billion unsecured revolving credit facility (the “Facility”) with a syndicate of key lenders. The Facility is available for general corporate purposes and provides Inter Pipeline with increased financial flexibility and access to additional financial resources should it be required. The Facility has an initial term of 16-months and other terms and conditions, including financial covenants, are substantially similar with Inter Pipeline’s existing $1.5 billion revolving credit facility that matures in December 2024. 

Inter Pipeline has also … Continue Reading

CALGARY, April 1, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) will announce its first quarter 2020 financial and operating results on May 7, 2020. A conference call and webcast have been scheduled for May 8 at 9:00 a.m. MT (11:00 a.m. ET) for interested shareholders, analysts and media representatives.

To participate in the conference call, please dial 1 (888) 231-8191. A replay of the conference call will be available until May 15, 2020 by calling 1 (855) 859-2056. The code for the replay is 2981946.

Annual and Special Virtual-Only Meeting of Shareholders                 

Inter … Continue Reading

CALGARY, March 30, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today measures to provide greater financial strength and flexibility for its capital program in response to the significant decrease in global energy prices and the COVID-19 pandemic.

In summary, these measures include:

Dividend reduction of 72%

Suspension of the Premium DividendTM and Dividend Reinvestment Plan

Suspension of the European Bulk Liquid Storage sales process

Expense reductions including compensation adjustments for management and the board of directors

Exploring partnership opportunities on the Heartland Petrochemical Complex

Dividend Reduction and Dividend Reinvestment Plan Suspension

The board of directors has … Continue Reading

CALGARY, March 9, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today the declaration of a cash dividend of $0.1425 per share for March 2020. This dividend will be paid on or about April 15, 2020 to shareholders of record on March 23, 2020. This dividend is designated as an “eligible dividend” for Canadian tax purposes.

Since inception, Inter Pipeline has distributed approximately $5.9 billion in cash payments to investors. Inter Pipeline’s objective is to provide investors with sustainable monthly cash dividends, with dividend growth upside tied to the development of Inter Pipeline’s portfolio of … Continue Reading

CALGARY, Feb. 20, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) today announced financial and operating results for the three and twelve-month periods ended December 31, 2019.

2019 Highlights

Annual funds from operations (FFO) totaled $873 million

Oil sands transportation business generated strong annual FFO of $604 million

Bulk liquid storage FFO increased to $115 million

Net income of $539 million

Declared cash dividends of $706 million, or $1.71 per share

Annual payout ratio* of 81 percent

Approved $100 million Viking Connector conventional pipeline project

Completed connection to Kirby North oil sands project for Canadian

… Continue Reading

CALGARY, Feb. 10, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today the declaration of a cash dividend of $0.1425 per share for February 2020. This dividend will be paid on or about March 16, 2020 to shareholders of record on February 24, 2020. This dividend is designated as an “eligible dividend” for Canadian tax purposes.

Inter Pipeline also announced today certain amendments to its Premium DividendTM and Dividend Reinvestment Plan (“DRIP”).  The discount for Inter Pipeline common shares issued pursuant to the Premium Dividend Component, as defined in the DRIP, has been reduced … Continue Reading

CALGARY, Jan. 28, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) will announce its year end and fourth quarter 2019 financial and operating results on February 20, 2020. A conference call and webcast has been scheduled for February 21, 2020 at 9:00 a.m. MT (11:00 a.m. ET) for interested shareholders, analysts and media representatives.

To participate in the conference call, please dial 1 (888) 231-8193. The conference ID is 2293946. A replay of the conference call will be available until February 28, 2020 by calling 1 (855) 859-2056. The code for the replay is 2293946.… Continue Reading