Apr 17, 2007 |
PAA Declares Increased Distribution on Limited Partner Units |
Contacts: Phil D. Kramer Executive Vice President and CFO 713/646-4560 – 800/564-3036
Roy I. Lamoreaux Manager, Investor Relations 713/646-4222 – 800/564-3036
FOR IMMEDIATE RELEASE
Plains All American Pipeline Declares Increased Distribution on Limited Partner Units
(Houston – April 17, 2007) Plains All American Pipeline, L.P. (NYSE: PAA) today announced a cash distribution of $0.8125 per unit ($3.25 per unit on an annualized basis) on all of its outstanding limited partner units. The distribution will be payable on May 15, 2007, to holders of record of such units at the close of business on May 4, 2007.
The quarterly distribution to be paid in May 2007 represents increases of approximately 14.8% over the quarterly distribution of $0.7075 paid in May 2006 and approximately 1.6% over the February 2007 distribution of $0.80. This represents the 12th consecutive increase in quarterly distributions for the Partnership and the 19th increase in the last twenty-five quarters.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products. Through its 50% ownership in PAA/Vulcan Gas Storage LLC, the Partnership also develops and operates natural gas storage facilities. The Partnership is headquartered in Houston, Texas.
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