Jan 17, 2002 |
PAA Announces Distribution on Common and Subordinated Units |
(Houston – January 17, 2002) Plains All American Pipeline, L.P. (NYSE: PAA) today announced a cash distribution of $0.5125 per unit on its outstanding limited partner units, which include Common Units, Class B Common Units and Subordinated Units. The distribution will be payable on February 14, 2002, to holders of record of such units at the close of business on February 4, 2002. The distribution represents an effective annualized distribution rate of $2.05 per unit. Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil transportation, terminalling and storage, as well as crude oil gathering and marketing activities, primarily in Texas, California, Oklahoma, Louisiana and the Gulf of Mexico and the Canadian Provinces of Alberta and Saskatchewan. The Partnership’s common units are traded on the New York Stock Exchange under the symbol “PAA.” The Partnership is headquartered in Houston, Texas. |
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