Plains All American Pipeline, L.P. Increases Distribution on Limited Partner Units; Plains GP Holdings Increases Distribution...
April 07 2014 - 6:00AM
Business Wire
Plains All American Pipeline, L.P. (NYSE: PAA) and Plains GP
Holdings (NYSE: PAGP) today announced their quarterly cash
distributions. The distributions will be payable on May 15, 2014 to
holders of record of each security at the close of business on May
2, 2014.
PAA increased its quarterly cash distribution to $0.6300 per
unit ($2.52 per unit on an annualized basis) on all of its
outstanding limited partner units. This distribution represents an
increase of approximately 9.6% over the quarterly distribution of
$0.5750 per unit ($2.30 per unit on an annualized basis) paid in
May 2013 and an increase of approximately 2.4% over the quarterly
distribution of $0.6150 per unit ($2.46 per unit on an annualized
basis) paid in February 2014. As of this distribution, PAA will
have increased its quarterly distribution to limited partners in 38
out of the past 40 quarters and consecutively in each of the past
19 quarters.
PAGP increased its quarterly cash distribution to $0.17055 per
Class A share ($0.6822 per Class A share on an annualized basis) on
all of its outstanding Class A shares. This distribution represents
an increase of approximately 6.7% over the non-prorated quarterly
distribution of $0.15979 per Class A share ($0.63914 per Class A
share on an annualized basis) for February 2014 and an increase of
approximately 14.4% over the initial quarterly distribution rate of
$0.14904 per Class A share included in PAGP’s IPO prospectus.
Plains All American Pipeline, L.P. is a publicly traded master
limited partnership that owns and operates midstream energy
infrastructure and provides logistics services for crude oil,
natural gas liquids ("NGL"), natural gas and refined products. PAA
owns an extensive network of pipeline transportation, terminalling,
storage and gathering assets in key crude oil and NGL producing
basins and transportation corridors and at major market hubs in the
United States and Canada. On average, PAA handles over 3.5 million
barrels per day of crude oil and NGL on its pipelines. PAA is
headquartered in Houston, Texas.
Plains GP Holdings is a publicly traded entity that owns an
interest in the general partner and incentive distribution rights
of Plains All American Pipeline, L.P., one of the largest energy
infrastructure and logistics companies in North America. PAGP is
headquartered in Houston, Texas.
Plains All American Pipeline, L.P. and Plains GP HoldingsRyan
Smith, 866/809-1291Director, Investor Relations
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