Apr 22, 2005 |
PAA Declares Increased Distribution on Limited Partner Units
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Contacts:
Phillip D. Kramer
Executive Vice President and CFO
713/646-4560 – 800/564-3036
A. Patrick Diamond
Manager, Special Projects
713/646-4487 – 800/564-3036
(Houston – April 22, 2005) Plains All American Pipeline, L.P. (NYSE: PAA) today announced a cash distribution of $0.6375 per unit ($2.55 per unit on an annualized basis) on all of its outstanding limited partner units. The distribution will be payable on May 13, 2005, to holders of record of such units at the close of business on May 3, 2005. The distribution represents an increase of approximately 13.3% over the May 2004 distribution and approximately 4.1% over the February 2005 distribution. This represents the 11th distribution increase for the Partnership in the last 18 quarters.
Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil transportation, and crude oil gathering, marketing, terminalling and storage, as well as the marketing and storage of liquefied petroleum gas and other petroleum products, in the United States and Canada. 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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