All American Pipeline, L.P. (NYSE: PAA)
GP Holdings (NYSE: PAGP)
today announced their quarterly distributions with respect to the first
quarter of 2018.
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 February 2018. 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 February 2018. With respect to
PAA's Series A Preferred Units, PAA announced a quarterly cash
distribution of $0.525 per Series A Preferred Unit, or $2.10 on an
annualized basis. For its Series B Preferred Units, PAA announced a
semi-annual distribution of $30.625 per Series B Preferred Unit. Each of
these distributions will be payable on May 15, 2018 to holders of record
of each security at the close of business on May 1, 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
more than 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.
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Plains All American Pipeline, L.P. and Plains GP Holdings
Director, Investor Relations