Plains All American Pipeline and Plains GP Holdings Announce Distributions
October 10 2022 - 4:40PM
Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP
Holdings (Nasdaq: PAGP) today announced their quarterly
distributions with respect to the third 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 August 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 August 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 November 14, 2022 to holders of record of each
security at the close of business on October 31, 2022.
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, 2022 to holders of record at
the close of business on November 1, 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 7 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. More information is available at www.plains.com.
Contact:
Michael GladsteinDirector, Investor Relations(866) 809-1291
Michael MillikManager, Investor Relations(866) 809-1291
Plains All American Pipe... (NASDAQ:PAA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Plains All American Pipe... (NASDAQ:PAA)
Historical Stock Chart
From Jul 2023 to Jul 2024