Plains All American Pipeline, L.P. Increases Distribution on Limited Partner Units; Plains GP Holdings Increases Distribution...
October 08 2014 - 7:45AM
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 November 14,
2014 to holders of record of each security at the close of business
on October 31, 2014.
PAA increased its quarterly cash distribution to $0.6600 per
unit ($2.64 per unit on an annualized basis) on all of its
outstanding limited partner units. This distribution represents an
increase of 10.0% over the quarterly distribution of $0.6000 per
unit ($2.40 per unit on an annualized basis) paid in November 2013
and an increase of 2.3% over the quarterly distribution of $0.6450
per unit ($2.58 per unit on an annualized basis) paid in August
2014. Once the November distribution is paid, PAA will have
increased its quarterly distribution to limited partners in 40 out
of the past 42 quarters and consecutively in each of the past 21
quarters.
PAGP increased its quarterly cash distribution to $0.19075 per
Class A share ($0.7630 per Class A share on an annualized basis) on
all of its outstanding Class A shares. This distribution represents
an increase of 28.0% over the initial quarterly distribution rate
of $0.14904 per Class A share included in PAGP’s IPO prospectus and
an increase of 4.0% over the quarterly distribution of $0.1834 per
Class A share ($0.7336 per Class A share on an annualized basis)
paid in August 2014.
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 3.9 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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