Plains
All American Pipeline, L.P. (NYSE: PAA)
and Plains
GP Holdings (NYSE: PAGP)
today announced their quarterly cash distributions. The distributions
will be payable on August 14, 2014 to holders of record of each security
at the close of business on August 1, 2014.
PAA
increased its quarterly cash distribution to $0.6450 per unit ($2.58 per
unit on an annualized basis) on all of its outstanding limited partner
units. This distribution represents an increase of approximately 9.8%
over the quarterly distribution of $0.5875 per unit ($2.35 per unit on
an annualized basis) paid in August 2013 and an increase of
approximately 2.4% over the quarterly distribution of $0.6300 per unit
($2.52 per unit on an annualized basis) paid in May 2014. Once the
August distribution is paid, PAA will have increased its quarterly
distribution to limited partners in 39 out of the past 41 quarters and
consecutively in each of the past 20 quarters.
PAGP
increased its quarterly cash distribution to $0.1834 per Class A share
($0.7336 per Class A share on an annualized basis) on all of its
outstanding Class A shares. This distribution represents an increase of
approximately 7.5% over the quarterly distribution of $0.17055 per Class
A share ($0.6822 per Class A share on an annualized basis) paid in May
2014 and an increase of approximately 23.1% over the initial quarterly
distribution rate of $0.14904 per Class A share included in PAGP's IPO
prospectus.
PAA 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 3.5
million barrels per day of crude oil and NGL on its pipelines. PAA is
headquartered in Houston, Texas.
PAGP is a publicly traded entity that owns an interest in the general
partner and incentive distribution rights of PAA, one of the largest
energy infrastructure and logistics companies in North America. PAGP is
headquartered in Houston, Texas.
Plains All American Pipeline, L.P. and Plains GP Holdings
Ryan
Smith, 866-809-1291
Director, Investor Relations
