|Bid||7.83 x 0|
|Ask||7.84 x 0|
|Day's Range||7.05 - 7.95|
|52 Week Range||5.35 - 25.42|
|Beta (5Y Monthly)||1.16|
|PE Ratio (TTM)||6.00|
|Earnings Date||May 06, 2020|
|Forward Dividend & Yield||1.71 (20.21%)|
|Ex-Dividend Date||Mar 19, 2020|
|1y Target Est||17.03|
The dividend cut is a rare step for Canada's pipeline operators and analysts warned that it could foreshadow strains in the sector as oil producers scale back output during the coronavirus outbreak and the Saudi-Russia oil price war. Shares in Inter Pipeline skidded more than 14% in early trading after the company announced the defensive steps. Inter Pipeline, which transports crude from Canada's oil sands region, said the cut to its monthly payout would save C$525 million per year.
CALGARY , March 30, 2020 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (IPL.TO) 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. The board of directors has conducted a comprehensive review of the dividend policy and approved a 72 percent reduction to the monthly cash dividend from $0.1425 per share to $0.04 per share, or $0.48 per share on an annualized basis. Inter Pipeline's dividend payments to shareholders are designated as "eligible dividends" for Canadian tax purposes.
CALGARY , March, 19, 2020 /CNW/ - In response to the unprecedented decline in global energy prices and the COVID-19 pandemic, Inter Pipeline Ltd. ("Inter Pipeline") (IPL.TO), is providing the following update to our stakeholders. "Inter Pipeline's top priorities remain the health and safety of our workforce, while ensuring the safe and reliable operations of our facilities and pipeline infrastructure", commented Christian Bayle , Inter Pipeline's President and Chief Executive Officer.
CALGARY , Feb. 10, 2020 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (IPL.TO) announced today the declaration of a cash dividend of $0.1425 per share for February 2020 . 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 from 3 percent to 2 percent effective with the dividend declared today.
CALGARY , Dec. 5, 2019 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (IPL.TO) announced today a $1.2 billion capital expenditure program for 2020. Approximately $1.1 billion of total capital expenditures will be for organic growth initiatives, with the remaining invested in sustaining capital projects. Capital investment within the NGL processing business segment is primarily focused on progressing construction of the Heartland Petrochemical Complex.
EDMONTON , Nov. 26, 2019 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") and The Northern Alberta Institute of Technology ("NAIT") today announced a new partnership to research opportunities to reuse and recycle plastic in Canada . The ten-year agreement, known as Plastics Research in Action ("PRIA"), will be funded by a $10 million commitment from Inter Pipeline, which represents the largest applied research partnership in NAIT's history. PRIA will draw on NAIT's applied research expertise in the area of process engineering, process automation and environmental sustainability.
The issue was underwritten by a syndicate co-led by BMO Capital Markets, National Bank Financial Markets and TD Securities Inc. under Inter Pipeline's short form base shelf prospectus dated January 18, 2018 and a related prospectus supplement to be dated November 13 , 2019. All dollar values are expressed in Canadian dollars unless otherwise noted.
Shares of the company, which owns pipelines in Alberta and Saskatchewan as well as oil storage tanks in Canada and Europe, have risen about 16% since its August statement on the offer. Inter Pipeline's business of transporting and storing oil within Canada has been lucrative.
CALGARY , Sept. 4, 2019 /CNW/ - Empowering women to pursue careers in industrial trades is the objective of a new three-year partnership between Inter Pipeline Ltd. ("Inter Pipeline") (IPL.TO) and Women Building Futures ("WBF"). Inter Pipeline is investing $580,000 to support WBF in raising awareness and providing pre-apprenticeship training to women in Alberta's Heartland area. "Women are generally underrepresented in construction and operations in our industry", said Christian Bayle , President and Chief Executive Officer of Inter Pipeline.
CALGARY , Aug. 30, 2019 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (IPL.TO) announced today that it has fully drawn a new $500 million 1-year term credit facility (the "Term Facility"). Proceeds were used to partially repay amounts outstanding under its existing $1.5 billion revolving credit facility, which may be redrawn. The Term Facility is extendible and provides Inter Pipeline with approximately $1.2 billion of available capacity on its revolving credit facility, while reducing borrowing costs.
WINNIPEG, Manitoba/CALGARY, Alberta (Reuters) - A recent unsolicited bid for Inter Pipeline Ltd has highlighted the potential of Canada's midstream companies to offer insulation from volatile oil prices. Inter Pipeline, Pembina Pipeline Corp and Keyera Corp own key infrastructure such as gathering pipelines, gas-processing plants and storage tanks that are in high demand, and reported record second quarter profits.