Plains All American Pipeline and Plains GP Holdings Announce Distributions
07 July 2021 - 6:16AM
Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP
Holdings (Nasdaq: PAGP) today announced their quarterly
distributions with respect to the second quarter of 2021.
PAA announced a quarterly cash distribution of
$0.18 per common unit ($0.72 per unit on an annualized basis),
which is unchanged from the distribution paid in May 2021. PAGP
announced a corresponding quarterly cash distribution of $0.18 per
Class A share ($0.72 per Class A share on an annualized basis),
which is unchanged from the distribution paid in May 2021. With
respect to PAA’s Series A Preferred Units, PAA announced a
quarterly cash distribution of $0.525 per Series A Preferred Unit,
or $2.10 on an annualized basis. Each of these distributions will
be payable on August 13, 2021 to holders of record of each security
at the close of business on July 30, 2021.
The PAGP cash distribution is expected to be a
non-taxable return of capital to the extent of a Class A
Shareholder’s tax basis in each PAGP Class A Share and a reduction
in the tax basis of that Class A Share. To the extent any cash
distribution exceeds a Class A Shareholder’s tax basis, it should
be taxable as capital gains.
PAA 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"), and natural gas. 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 United States and Canada. On average,
PAA handles more than 5 million barrels per day of crude oil and
NGL in its Transportation segment.
PAGP is a publicly traded entity that owns an
indirect, non-economic controlling general partner interest in PAA
and an indirect limited partner interest in PAA, one of the largest
energy infrastructure and logistics companies in North America.
PAA and PAGP are headquartered in Houston,
Texas. More information is available at
www.plainsallamerican.com.
Contact:
Brett
Magill Director,
Investor
Relations (866)
809-1291
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