Plains All American Pipeline, L.P. and Plains GP Holdings Increase Distributions
January 08 2015 - 9:03AM
Business Wire
Plains All American Pipeline, L.P. (NYSE:PAA) and Plains GP
Holdings (NYSE:PAGP) today announced their quarterly cash
distributions with respect to the fourth quarter of 2014. The
distributions will be payable on February 13, 2015 to holders of
record of each security at the close of business on January 30,
2015.
PAA increased its quarterly cash distribution to $0.675 per
limited partner unit ($2.70 per unit on an annualized basis), which
represents an increase of 9.8% over the quarterly distribution of
$0.615 per unit ($2.46 per unit on an annualized basis) paid in
February 2014 and an increase of 2.3% over the quarterly
distribution of $0.66 per unit ($2.64 per unit on an annualized
basis) paid in November 2014. Once the February distribution is
paid, PAA will have increased its quarterly distribution to limited
partners in 41 out of the past 43 quarters and consecutively in
each of the past 22 quarters.
PAGP increased its quarterly cash distribution to $0.203 per
Class A share ($0.812 per Class A share on an annualized basis) on
all of its outstanding Class A shares. This distribution represents
an increase of 27% 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 6.4% over
the quarterly distribution of $0.19075 per Class A share ($0.763
per Class A share on an annualized basis) paid in November
2014.
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 3.9 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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