On Friday, May 8, 2026, the Board of Directors of Pembina Pipeline Corporation (TSE: PPL) announced a quarterly dividend increase from C$0.71 to C$0.735 per share. The dividend will be payable on June 30, 2026, to shareholders of record as of June 15, 2026. This represents a 3.52% increase over the prior quarterly dividend.
Current Dividend Yield and Income Impact
At yesterday’s closing price of C$64.05, this increase raises PPL’s forward dividend yield to approximately 4.59%.
As an owner of 170 shares of Pembina Pipeline Corporation, this dividend increase adds $9.27 to my projected annual net dividend income. I had expected an increase closer to 5%, so this was a slight disappointment—but a raise is still a raise.
Long-Term Dividend Growth Track Record
Pembina Pipeline is once again a member of the Canadian Dividend All-Star List. Although the dividend was held flat in 2021, growth resumed in 2022, and with this latest increase, the company has now re-established its place on the list.
According to the Canadian Dividend All-Star data, its dividend growth rates are:
- 1-year: 3.0%
- 3-year: 3.4%
- 5-year: 2.3%
- 10-year: 4.6%
This recent dividend increase marks the fourth consecutive raise I’ve received since initiating my position in November 2022. Over that time, the quarterly dividend has grown from C$0.6525 to C$0.735 per share—an increase of approximately 12.6%.
At the time of writing, PPL represents about 0.78% of my portfolio and contributes approximately 0.95% of my projected annual dividend income. Following this increase, my yield on cost stands at 6.19%.
Quick Valuation Take
Pembina Pipeline appears reasonably valued at current levels. As a key player in Canada’s energy infrastructure sector, the company benefits from stable, fee-based cash flows.
Dividend Safety and Outlook
The dividend appears well supported by predictable cash flows from its pipeline and midstream operations. While growth remains modest, the company continues to provide a reliable and attractive income stream.
Final Thoughts
This was a slightly underwhelming increase, but still a positive step forward. Pembina Pipeline remains a solid income-generating holding, offering a combination of stability and above-average yield.
Summary of 2026 Dividend Increases / Cuts
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You can follow the development of my dividends here
Full Disclosure: Long TSE:PPL
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