Two Stable Trusts for Income and Growth

Article Excerpt

PEMBINA PIPELINE INCOME FUND $16.52 (Toronto symbol PIF.UN; SI Rating: Extra risk) has increased its distribution for the second time this year. The fund now pays $0.12 a month, up 9.1% from $0.11 previously. The units now yield 8.7%. In January, Pembina increased its monthly distribution by 10%, to $0.11 from $0.10. Pembina has interests in 14 feeder pipeline systems with a total length of 8,350 kilometres. This includes the Pembina System, in operation since 1954. The company also holds a 50% interest in the Fort Saskatchewan Ethylene Storage Limited Partnership. Pembina’s total network is the largest feeder operation in Canada. These pipelines bring oil and gas from fields in northeastern B.C. and western and northern Alberta to refineries, or feed into major pipelines such as the Enbridge Pipeline System. In the three months ended June 30, 2007, Pembina’s revenues rose 51.3%, to $126.4 million, from $83.5 million. Cash flow per unit rose 21.4%, to $0.34 from $0.28 on more units outstanding. Pembina…

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