Plains All American Pipeline, L.P. Increases Distribution on Limited Partner Units; Plains GP Holdings Increases Distribution...
July 08 2014 - 6:30AM
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 August 14, 2014
to holders of record of each security at the close of business on
August 1, 2014.
PAA increased its quarterly cash distribution to $0.6450 per
unit ($2.58 per unit on an annualized basis) on all of its
outstanding limited partner units. This distribution represents an
increase of approximately 9.8% over the quarterly distribution of
$0.5875 per unit ($2.35 per unit on an annualized basis) paid in
August 2013 and an increase of approximately 2.4% over the
quarterly distribution of $0.6300 per unit ($2.52 per unit on an
annualized basis) paid in May 2014. Once the August distribution is
paid, PAA will have increased its quarterly distribution to limited
partners in 39 out of the past 41 quarters and consecutively in
each of the past 20 quarters.
PAGP increased its quarterly cash distribution to $0.1834 per
Class A share ($0.7336 per Class A share on an annualized basis) on
all of its outstanding Class A shares. This distribution represents
an increase of approximately 7.5% over the quarterly distribution
of $0.17055 per Class A share ($0.6822 per Class A share on an
annualized basis) paid in May 2014 and an increase of approximately
23.1% over the initial quarterly distribution rate of $0.14904 per
Class A share included in PAGP’s IPO prospectus.
PAA 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.
PAGP is a publicly traded entity that owns an interest in the
general partner and incentive distribution rights of PAA, 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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