Plains All American Pipeline and Plains GP Holdings Announce Distributions
July 07 2022 - 5:30PM
Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP
Holdings (Nasdaq: PAGP) today announced their quarterly
distributions with respect to the second quarter of 2022.
PAA announced a quarterly cash distribution of
$0.2175 per common unit ($0.87 per unit on an annualized basis),
which is unchanged from the distribution paid in May 2022. PAGP
announced a corresponding quarterly cash distribution of $0.2175
per Class A share ($0.87 per Class A share on an annualized basis),
which is unchanged from the distribution paid in May 2022. 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 August 12, 2022 to holders of record of each security
at the close of business on July 29, 2022.
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.
PAA is a publicly traded master limited
partnership that owns and operates midstream energy infrastructure
and provides logistics services for crude oil and natural gas
liquids (NGL). PAA owns an extensive network of pipeline gathering
and transportation systems, in addition to terminalling, storage,
processing, fractionation and other infrastructure assets serving
key producing basins, transportation corridors and major market
hubs and export outlets in the United States and Canada. On
average, PAA handles more than 6 million barrels per day of crude
oil and NGL.
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.
PAA and PAGP are headquartered in Houston,
Texas. For more information, please visit www.plains.com.
Contact:
Michael GladsteinDirector, Investor Relations(866) 809-1291
Michael MillikManager, Investor Relations(866) 809-1291
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