Plains All American Pipeline, L.P. and Plains GP Holdings announced their quarterly distributions with respect to the first quarter of 2017. The distributions will be payable on 15 May 2017 to holders of record of each security at the close of business on 1 May 2017.
PAA announced a quarterly cash distribution of US$0.55 per common unit (US$2.20 per unit on an annualised basis), which is unchanged from the quarterly distribution paid in February 2017. Additionally, PAA announced a payment-in-kind (PIK) of the quarterly distribution with respect to its Series A Preferred Units, which will result in the issuance of an additional 1 313 527 Series A Preferred Units. The PIK amount equates to a quarterly distribution of US$0.525 per Series A Preferred Unit, or US$2.10 annualised.
PAGP announced a quarterly cash distribution of US$0.55 per Class A share (US$2.20 per Class A share on an annualised basis), which is unchanged from the quarterly distribution paid in February 2017.
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 US and Canada. On average, PAA handles over 4.6 million bpd of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas.
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