Plains All American Pipeline, L.P. and Plains GP Holdings Announce Distributions
April 07 2016 - 4:04PM
Business Wire
Plains All American Pipeline, L.P. (NYSE: PAA) and Plains GP
Holdings (NYSE: PAGP) today announced their quarterly distributions
with respect to the first quarter of 2016. The distributions will
be payable on May 13, 2016 to holders of record of each security at
the close of business on April 29, 2016.
PAA announced a quarterly cash distribution of $0.70 per common
unit ($2.80 per unit on an annualized basis), which is unchanged
from the quarterly distribution paid in February 2016.
Additionally, with respect to the Series A Preferred Units issued
during the first quarter of 2016, PAA announced a payment-in-kind
(“PIK”) of the quarterly distribution, which will result in the
issuance of an additional 858,439 Series A Preferred Units. The
Series A Preferred Unit distribution payable in May 2016 is for a
partial period beginning on January 28, 2016 and ending on March
31, 2016. Accordingly, the PIK amount equates to $0.3692 per Series
A Preferred Unit (future quarterly distributions will be $0.525 per
unit or $2.10 annualized).
PAGP announced a quarterly cash distribution of $0.231 per Class
A share ($0.924 per Class A share on an annualized basis), which is
unchanged from the quarterly distribution paid in February
2016.
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 4.4 million
barrels per day of crude oil and NGL in its Transportation segment.
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.
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Plains All American Pipeline, L.P. and Plains GP HoldingsRyan
Smith, (866) 809-1291Director, Investor Relations
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