Plains All American Pipeline LP and Plains GP Holdings increase distributions

Plains All American Pipeline LP (PAA) and Plains GP Holdings (PAGP) have announced their quarterly cash distributions with respect to 3Q15. The distributions will be payable on 13 November 2015 to holders of record of each security at the close of business on 30 October 2015.

PAA increased its quarterly cash distribution to US$0.700 per limited partner unit (US$2.80 per unit on an annualized basis), which represents an increase of 6.1% over the quarterly distribution of US$0.660 per unit (US$2.64 per unit on an annualized basis) paid in November 2014 and an increase of 0.7% over the quarterly distribution of US$0.695 per unit (US$2.78 per unit on an annualized basis) paid in August 2015. Once the November 2015 distribution is paid, PAA will have increased its quarterly distribution to limited partners in 44 out of the past 46 quarters and consecutively in each of the past 25 quarters.

PAGP increased its quarterly cash distribution to US$0.231 per Class A share (US$0.924 per Class A share on an annualised basis), which represents an increase of 21.1% over the quarterly distribution of US$0.19075 per Class A share (US$0.763 per Class A share on an annualised basis) paid in November 2014 and an increase of 1.8% over the quarterly distribution of US$0.227 per Class A share (US$0.908 per Class A share on an annualised basis) paid in August 2015.

Plains All American Pipeline LP 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 US and Canada. On average, PAA handles approximately 4.3 million bpd of crude oil and NGL on its pipelines. PAA is headquartered in Houston, Texas.

Edited from press release by Angharad Lock

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