Pembina Pipeline Corp (TSX: PPL, NYSE: PBA) is now trading on the New York Stock Exchange (NYSE) under the symbol PBA. All shares previously traded in the US over the counter (OTC) market under the five-letter symbol PBNPF are now traded as PBA on the NYSE.

The move coincides with the completion of the merger between Pembina Pipeline and the former Provident Energy Ltd. Provident shareholders now own 0.425 shares of Pembina per share of Provident previously held. Provident is delisted from the NYSE as well as the Toronto Stock Exchange (TSX).

Pembina is increasing its monthly dividend from a prior rate of CAD0.13 per share to CAD0.135, a 3.8 percent boost. That translates into an immediate 27.5 percent boost for former Provident shareholders. The post-merger Pembina expects to increase future dividends at a rate of 3 percent to 5 percent annually. And it’s increased its credit facility from CAD800 million to CAD1.5 billion, for a term of five years.

For Canadian Edge Portfolio purposes, Provident Energy is now considered a closed position, with a total return of approximately 114.5 percent since an initial recommendation date of Apr. 5, 2007. Pembina Pipeline is a buy up to USD28 for those who don’t already own it.