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THU , 04 NOV 2021 Pembina Pipeline Corporation Reports Strong Results for the Third Quarter 2021 Pembina's diversified business supported by strong prices across all commodities and poised to benefit from growing sector activity PEMBINA Pembina Pipeline Corporation Reports Strong Results All financial figures are in Canadian dollars unless otherwise noted . This news release refers to certain financial measures that are not specified , defined or determined in accordance with Generally Accepted Accounting Principles ( " GAAP " ) , including net revenue ; adjusted earnings before interest , taxes , depreciation and amortization ( " adjusted EBITDA " ) ; cash flow from operating activities per common share ; adjusted cash flow from operating activities ; and adjusted cash flow from operating activities per common share . For more information see " Non - GAAP Measures " herein . CALGARY , AB , Nov. 4 , 2021 / CNW / - Pembina Pipeline Corporation ( " Pembina " or the " Company " ) ( TSX : PPL ) ( NYSE : PBA ) announced today its financial and operating results for the third quarter of 2021 . Highlights Third quarter earnings of $ 588 million and adjusted EBITDA of $ 850 million reflect strong pricing across all commodities in Pembina's value chain . During the quarter , Pembina received payment of a $ 350 million ( pre - tax ) fee related to the termination of the proposed acquisition of Inter Pipeline . Pembina recently announced its target to reduce greenhouse gas emissions intensity by 30 percent by 2030 , relative to baseline 2019 emissions . Financial and Operational Overview 3 Months Ended September 30 9 Months Ended September 30 ( $ millions , except where noted ) ( unaudited ) Infrastructure and other services revenue Product sales revenue Total revenue Net revenue ( 1 ) 2021 2020 ( 3 ) 2021 2020 ( 3 ) 756 744 2,240 2,199 1,393 752 3,827 2,074 2,149 1,496 6,067 4,273 961 849 2,854 2,490 Earnings 588 323 1,162 900 Earnings per common share - basic & diluted ( dollars ) 1.01 0.52 1.92 1.42 Cash flow from operating activities 913 434 1,953 1,486 Cash flow from operating activities per common share - basic ( dollars ) ( 1 ) 1.66 0.78 3.55 2.70 Adjusted cash flow from operating activities ( 1 ) 786 524 1,906 1,686 Adjusted cash flow from operating activities per common share - basic ( dollars ) ( 1 ) 1.43 0.95 3.47 3.07 Common share dividends declared 347 346 1,040 1,039 Dividends per common share ( dollars ) 0.63 0.63 1.89 1.89 Capital expenditures 209 174 482 868 Total volume ( mboe / d ) ( 2 ) 3,411 3,451 3,464 3,462 Adjusted EBITDA ( 1 ) 850 796 2,463 2,415 ( 1 ) Refer to " Non - GAAP Measures " . ( 2 ) ( 3 ) Total revenue volumes . Revenue volumes are physical volumes plus volumes recognized from take - or - pay commitments . Volumes are stated in thousand barrels of oil equivalent per day ( " mboe / d " ) , with natural gas volumes converted to mboe / d from millions of cubic feet per day ( " MMcf / d " ) at a 6 : 1 ratio . Comparative 2020 period has been restated . See " Voluntary Change in Accounting Policy " and " Restatement of Revenue and Cost of Goods Sold " in Pembina's management's discussion and analysis for the three and nine months ended September 30 , 2021 ( " MD & A " ) and Note 2 to Pembina's unaudited condensed consolidated interim financial statements as at and for the three and nine months ended September 30 , 2021 ( " Interim Financial Statements " ) .