Plains All American Pipeline, L.P. and Plains GP Holdings Announce Distributions
July 05 2017 - 4:25PM
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 second quarter of 2017. The distributions will
be payable on August 14, 2017 to holders of record of each security
at the close of business on July 31, 2017.
PAA announced a quarterly cash distribution of $0.55 per common
unit ($2.20 per unit on an annualized basis), which is unchanged
from the quarterly distribution paid in May 2017. Additionally, PAA
announced a payment-in-kind (“PIK”) of the quarterly distribution
with respect to its Series A Preferred Units, which will result in
the issuance of an additional 1,339,796 Series A Preferred Units.
The PIK amount equates to a quarterly distribution of $0.525 per
Series A Preferred Unit, or $2.10 annualized.
PAGP announced a quarterly cash distribution of $0.55 per Class
A share ($2.20 per Class A share on an annualized basis), which is
unchanged from the quarterly distribution paid in May 2017.
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 4.7 million
barrels per day of crude oil and NGL in its Transportation segment.
PAA is headquartered in Houston, Texas. More information is
available at www.plainsallamerican.com.
PAGP is a publicly traded entity that owns an indirect,
non-economic controlling general partner interest in PAA and an
indirect limited partner interest in PAA, one of the largest energy
infrastructure and logistics companies in North America. PAGP is
headquartered in Houston, Texas. More information is available at
www.plainsallamerican.com.
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Plains All American Pipeline, L.P. and Plains GP HoldingsBrett
Magill, (866) 809-1291Manager, Investor Relations
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