Plains All American Pipeline, L.P. and Plains GP Holdings Announce Distributions
October 05 2018 - 8:00AM
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 third quarter of 2018.
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 August 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 August 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. Each of these distributions will be payable on
November 14, 2018 to holders of record of each security at the
close of business on October 31, 2018.
For its Series B Preferred Units, PAA announced a semi-annual
distribution of $30.625 per Series B Preferred Unit, which will be
payable on November 15, 2018 to holders of record at the close of
business on November 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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version on businesswire.com: https://www.businesswire.com/news/home/20181005005063/en/
Plains All American Pipeline, L.P. and Plains GP HoldingsBrett
Magill, 866-809-1291Director, Investor Relations
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