Plains All American Pipeline, L.P. and Plains GP Holdings Increase Distributions
July 07 2015 - 4:07PM
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 second quarter of 2015. The
distributions will be payable on August 14, 2015 to holders of
record of each security at the close of business on July 31,
2015.
PAA increased its quarterly cash distribution to $0.695 per
limited partner unit ($2.78 per unit on an annualized basis), which
represents an increase of 7.8% over the quarterly distribution of
$0.645 per unit ($2.58 per unit on an annualized basis) paid in
August 2014 and an increase of 1.5% over the quarterly distribution
of $0.685 per unit ($2.74 per unit on an annualized basis) paid in
May 2015. Once the August 2015 distribution is paid, PAA will have
increased its quarterly distribution to limited partners in 43 out
of the past 45 quarters and consecutively in each of the past 24
quarters.
PAGP increased its quarterly cash distribution to $0.227 per
Class A share ($0.908 per Class A share on an annualized basis),
which represents an increase of 23.8% 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 and an increase
of 2.3% over the quarterly distribution of $0.222 per Class A share
($0.888 per Class A share on an annualized basis) paid in May
2015.
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 4.2 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.
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Plains All American Pipeline, L.P. and Plains GP HoldingsRyan
Smith, (866) 809-1291Director, Investor Relations
Plains All American Pipe... (NYSE:PAA)
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