Plains All American Pipeline, L.P. and Plains GP Holdings Increase Distributions
Plains All American Pipeline, L.P. (NYSE: PAA) andPlains 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.
