Plains
All American Pipeline, L.P. (NYSE:PAA)
and Plains
GP Holdings (NYSE:PAGP)
today announced their quarterly cash distributions with respect to the
fourth quarter of 2014. The distributions will be payable on February
13, 2015 to holders of record of each security at the close of business
on January 30, 2015.
PAA
increased its quarterly cash distribution to $0.675 per limited partner
unit ($2.70 per unit on an annualized basis), which represents an
increase of 9.8% over the quarterly distribution of $0.615 per unit
($2.46 per unit on an annualized basis) paid in February 2014 and an
increase of 2.3% over the quarterly distribution of $0.66 per unit
($2.64 per unit on an annualized basis) paid in November 2014. Once the
February distribution is paid, PAA will have increased its quarterly
distribution to limited partners in 41 out of the past 43 quarters and
consecutively in each of the past 22 quarters.
PAGP
increased its quarterly cash distribution to $0.203 per Class A share
($0.812 per Class A share on an annualized basis) on all of its
outstanding Class A shares. This distribution represents an increase of
27% over the non-prorated quarterly distribution of $0.15979 per Class A
share ($0.63914 per Class A share on an annualized basis) for February
2014 and an increase of 6.4% over the quarterly distribution of $0.19075
per Class A share ($0.763 per Class A share on an annualized basis) paid
in November 2014.
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"),
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 3.9 million barrels per day of crude oil and NGL on its
pipelines. PAA is headquartered in Houston, Texas.
Plains GP Holdings is a publicly traded entity that owns an interest in
the general partner and incentive distribution rights of Plains All
American Pipeline, L.P., 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