Pembina Pipeline (TSX:PPL) Dividend Payout Ratio: 0.88 (As of Mar. 2026) — 11% Below Median

What is Pembina Pipeline Dividend Payout Ratio?

Pembina Pipeline TSX:PPL +0.07% 74 Dividend Payout Ratio is 0.88 as of Mar. 2026, which is 11% below its 10-year median of 0.99. GuruFocus rates TSX:PPL with a GF Score™ of 74/100 and a GF Value™ of C$55.19 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 436 Oil & Gas companies, Pembina Pipeline ranks worse than 83.26% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Pembina Pipeline's Dividend Payout Ratio for the months ended in Mar. 2026 was 0.88.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Pembina Pipeline Corp is 1.13, which seems too high.

The historical rank and industry rank for Pembina Pipeline's Dividend Payout Ratio or its related term are showing as below:

TSX:PPL' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.7 Med: 0.99 Max: 1.88
Current: 1.13

During the past 13 years, the highest Dividend Payout Ratio of Pembina Pipeline was 1.88. The lowest was 0.70. And the median was 0.99.

TSX:PPL's Dividend Payout Ratio is ranked worse than
83.26% of 436 companies
in the Oil & Gas industry
Industry Median: 0.5 vs TSX:PPL: 1.13

As of today (2026-06-28), the Dividend Yield % of Pembina Pipeline is 4.28%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Pembina Pipeline was 10.21%. The lowest was 4.15%. And the median was 5.18%.

Pembina Pipeline's Dividends per Share for the months ended in Mar. 2026 was C$0.71.

During the past 12 months, Pembina Pipeline's average Dividends Per Share Growth Rate was 2.90% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 3.40% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 2.50% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 4.50% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Pembina Pipeline was 12.40% per year. The lowest was 0.00% per year. And the median was 3.40% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Pembina Pipeline (TSX:PPL) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Pembina Pipeline Dividend Payout Ratio Related Terms

Pembina Pipeline Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Pembina Pipeline's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Pembina Pipeline Dividend Payout Ratio Chart

Pembina Pipeline Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Dividend Payout Ratio

Get a 7-Day Free Trial

0.95

0.77

1.00

0.70

1.12

Pembina Pipeline Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Dividend Payout Ratio	Get a 7-Day Free Trial															0.86	1.09	1.65	1.13	0.88

TSX:PPL vs WMB, EPD, KMI: Dividend Payout Ratio Comparison

For the Oil & Gas Midstream subindustry, Pembina Pipeline's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Pembina Pipeline Dividend Payout Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Pembina Pipeline's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Pembina Pipeline's Dividend Payout Ratio falls into.

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74GF Score

Pembina Pipeline Corp TSX:PPL

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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Pembina Pipeline Dividend Payout Ratio Calculation

Pembina Pipeline's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Dec. 2025 )	/	EPS without NRI (A: Dec. 2025 )
	=	2.82	/	2.512
	=	1.12

Pembina Pipeline's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Mar. 2026 )	/	EPS without NRI (Q: Mar. 2026 )
	=	0.71	/	0.808
	=	0.88

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 0.88 mean?

Pembina Pipeline (TSX:PPL) has a Dividend Payout Ratio of 0.88 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Pembina Pipeline and its competitors. This is 11% below median its historical median of 0.99. Over the past decade, Pembina Pipeline's Dividend Payout Ratio has ranged from 0.70 to 1.88. According to the industry distribution chart, Pembina Pipeline ranks #363 out of 436 companies in the Oil & Gas industry, placing it in the top 83.3%.

Is Pembina Pipeline's Dividend Payout Ratio too high?

Pembina Pipeline's current Dividend Payout Ratio of 0.88 is 11% below median its 10-year median of 0.99. Over the past 10 years, this metric has ranged from a low of 0.70 to a high of 1.88. The Oil & Gas industry median Dividend Payout Ratio is 0.50. Pembina Pipeline's value of 0.88 is 76% above this industry median. Based on the distribution chart, Pembina Pipeline ranks #363 out of 436 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Pembina Pipeline has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Pembina Pipeline's Dividend Payout Ratio compare to WMB and EPD?

According to the Oil & Gas industry distribution chart, Pembina Pipeline ranks #363 out of 436 companies for Dividend Payout Ratio. This places Pembina Pipeline in the lower half of its industry. The industry median Dividend Payout Ratio is 0.50. Pembina Pipeline's value of 0.88 is 76% above this benchmark. Historically, Pembina Pipeline's own Dividend Payout Ratio has ranged from 0.70 to 1.88 over the past decade. While the company's 10-year median is 0.99 vs. the industry median of 0.50, Pembina Pipeline has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for an Oil & Gas company?

The median Dividend Payout Ratio among Oil & Gas companies is 0.50, based on 436 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Pembina Pipeline's current Dividend Payout Ratio of 0.88 is 76% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Pembina Pipeline and its competitors. For the Oil & Gas industry, the median Dividend Payout Ratio is 0.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pembina Pipeline's current Dividend Payout Ratio is 0.88, which is 11% below median its own 10-year median of 0.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Pembina Pipeline stock overvalued right now?

Based on GuruFocus' analysis, Pembina Pipeline (TSX:PPL) is currently considered Modestly Overvalued. The stock's GF Value™ is C$55.19, compared to a current price of C$66.94 — trading 21.3% above its estimated fair value. The current Dividend Payout Ratio is 0.88, which is 11% below median its 10-year median of 0.99 and 76% above the Oil & Gas industry median of 0.50. Pembina Pipeline's overall GF Score™ is 74/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For Pembina Pipeline (TSX:PPL), the current Dividend Payout Ratio is 0.88 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Pembina Pipeline (TSX:PPL) Overvalued in 2026?

Based on GuruFocus' analysis, Pembina Pipeline stock appears to be overvalued. The current stock price of C$66.94 is trading 21.3% above its estimated GF Value™ of C$55.19. GuruFocus considers Pembina Pipeline to be Modestly Overvalued.

Key valuation signals for TSX:PPL:

Dividend Payout Ratio: 0.88 (11% below median its 10-year median of 0.99)
GF Value™: C$55.19 vs. price of C$66.94 (21.3% above fair value)
GF Score™: 74/100 with 9 warning signs
Industry Position: 76% above the Oil & Gas median (#363 of 436)

No single metric tells the full story. See the TSX:PPL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Pembina Pipeline Business Description

Industry Energy Oil & Gas

Comparable Companies TSX:ALA TSX:KEY TSX:SOBO TSX:TPZ TSX:GEI TSX:TWM TSXV:ATLE TSXV:SRR TSX:TRP TSX:ENB WMB EPD KMI ET MPLX TRGP OKE LNG VG CQP

Other Exchanges PMBPF.PFD:USA PBNAF.PFD:USA PBA:USA P5P:Germany PPL.PF.E.PFD:Canada PPL.PF.A.PFD:Canada PPL.PR.O.PFD:Canada PPL.PR.Q.PFD:Canada PPL.PR.G.PFD:Canada PPL.PR.E.PFD:Canada PPL.PR.C.PFD:Canada PPL.PR.A.PFD:Canada

Address 585 - 8th Avenue SW, Suite 4000, Calgary, AB, CAN, T2P 1G1

Website https://www.pembina.com

Pembina Pipeline is a midstream company serving the Canadian and North American (primarily Bakken) markets with an integrated product portfolio. Its operations include transmission pipelines, oil and gas gathering, fractionation, storage, and natural gas liquid exports. It also has a joint venture through the Cedar LNG export terminal.

74GF Score

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Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$66.94

Price

C$55.19

GF Value

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