Plains All American Pipeline, L.P. and Plains GP Holdings Announce Distributions
January 08 2018 - 4:18PM
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 fourth quarter of 2017.
PAA announced a quarterly cash distribution of $0.30 per common
unit ($1.20 per unit on an annualized basis), which is unchanged
from the distribution paid in November 2017. PAGP announced a
corresponding quarterly cash distribution of $0.30 per Class A
share ($1.20 per Class A share on an annualized basis), which is
unchanged from the distribution paid in November 2017. With respect
to PAA’s Series A Preferred Units, PAA announced a payment-in-kind
(“PIK”) of the quarterly distribution, which will result in the
issuance of an additional 1,393,926 Series A Preferred Units. The
PIK amount equates to a quarterly distribution of $0.525 per Series
A Preferred Unit, or $2.10 annualized. These distributions will be
payable on February 14, 2018 to holders of record of each security
at the close of business on January 31, 2018.
The PAGP cash distribution is expected to be a non-taxable
return of capital to the extent of a Class A Shareholder’s tax
basis in each PAGP Class A Share and a reduction in the tax basis
of that Class A Share. To the extent any cash distribution exceeds
a Class A Shareholder’s tax basis, it should be taxable as capital
gains.
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"), and natural gas. 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 5 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180108006840/en/
Plains All American Pipeline, L.P. and Plains GP HoldingsBrett
Magill, 866-809-1291Manager, Investor Relations
Plains All American Pipe... (NYSE:PAA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Plains All American Pipe... (NYSE:PAA)
Historical Stock Chart
From Apr 2023 to Apr 2024