Plains All American Pipeline and Plains GP Holdings Announce Distributions

Rhea-AI Summary

Plains All American Pipeline (PAA) announced its fourth-quarter cash distribution of $0.18 per common unit, consistent with the November 2021 distribution. The annualized value stands at $0.72. Additionally, PAA's Series A Preferred Units will receive a cash distribution of $0.525 per unit, totaling $2.10 annually. These distributions are payable on February 14, 2022, to shareholders as of January 31, 2022. PAA operates extensive midstream energy infrastructure, managing over 6 million barrels of crude oil and natural gas liquids daily.

Positive

• Quarterly cash distribution of $0.18 per common unit and $0.525 per Series A Preferred Unit.
• Distributions remain unchanged from previous quarter, indicating stability.
• PAA manages over 6 million barrels per day, showcasing robust operations.

Negative

• None.

HOUSTON, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today announced their quarterly distributions with respect to the fourth 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 November 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 November 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 February 14, 2022 to holders of record of each security at the close of business on January 31, 2022.

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 and natural gas liquids (NGL). PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, processing, fractionation and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada. On average, PAA handles more than 6 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. For more information, please visit www.plains.com.

Contact:        

Brett Magill                        
Director, Investor Relations                
(866) 809-1291

FAQ

What is the PAA cash distribution for the fourth quarter of 2021?

PAA announced a cash distribution of $0.18 per common unit for the fourth quarter of 2021.

When will the PAA distributions be paid?

PAA's distributions will be payable on February 14, 2022.

What is the annualized value of the PAA cash distribution?

The annualized value of the PAA cash distribution is $0.72 per common unit.

How much is the cash distribution for PAA's Series A Preferred Units?

PAA's Series A Preferred Units will receive a cash distribution of $0.525 per unit.

What is PAA's operational capacity?

PAA handles over 6 million barrels per day of crude oil and natural gas liquids.