Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of First Quarter 2025 Earnings

Rhea-AI Summary

Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) have announced their quarterly distributions for Q1 2025. Both PAA Common Units and PAGP Class A Shares will maintain their quarterly distribution at $0.38 per unit ($1.52 annualized), unchanged from February 2025.

Additional distributions include $0.61524 per Series A Preferred Unit (approximately $2.46 annualized) and $21.49 per Series B Preferred Unit (floating rate). All distributions will be payable on May 15, 2025 to holders of record as of May 1, 2025.

The companies will release their Q1 2025 earnings before market open on May 9, 2025, followed by a conference call at 9:00 a.m. CT to discuss results with analysts and investors.

Positive

• Maintained stable quarterly distribution of $0.38 per unit for both PAA and PAGP

Negative

• None.

HOUSTON, April 02, 2025 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) announced today their quarterly distributions with respect to the first quarter of 2025 and also announced timing of first quarter 2025 earnings.

First Quarter Distribution Declaration

PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on May 15, 2025 to holders of the respective securities at the close of business on May 1, 2025:

• PAA Common Units – $0.38 per Common Unit ($1.52 per unit on an annualized basis), which is unchanged from the distribution paid in February 2025.
• PAGP Class A Shares – $0.38 per Class A Share ($1.52 per Class A Share on an annualized basis), which is unchanged from the distribution paid in February 2025.
• PAA Series A Preferred Units – $0.61524 per Series A Preferred Unit (approximately $2.46 per unit on an annualized basis).
• PAA Series B Preferred Units - $21.49 per Series B Preferred Unit (based on the applicable quarterly floating rate).

Although equity holders should consult their own tax advisor regarding their particular circumstances, the PAGP cash distribution per Class A Share 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 such tax basis. In addition, to the extent any cash distribution exceeds a Class A Shareholder’s tax basis, it should be taxable as a capital gain. Qualified Notices under Treasury Regulation Section 1.1446 with respect to the PAA Common Unit distribution and PAA Series B Preferred Unit distribution will be posted on the Plains website under “Investor Relations – Unit Information.”

First Quarter 2025 Earnings Timing

PAA and PAGP also announced that they will release first quarter 2025 earnings before market open on Friday, May 9, 2025. Following the announcement, PAA and PAGP will host a conference call at 9:00 a.m. CT (10 a.m. ET) with analysts and investors to discuss earnings. The call will be webcast live on the internet and may be accessed through the "Investors Relations” section of the website at www.plains.com. An audio replay will be available on the website after the call.

About Plains

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 approximately eight million barrels per day of crude oil and NGL. 

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.plains.com.

Investor Relations Contacts:

Blake Fernandez
Michael Gladstein
PlainsIR@plains.com
(866) 809-1291

FAQ

What is Plains All American Pipeline's Q1 2025 distribution per common unit?

PAA's Q1 2025 distribution is $0.38 per Common Unit ($1.52 annualized), unchanged from February 2025.

When will PAA and PAGP pay their Q1 2025 distributions?

The distributions will be paid on May 15, 2025 to holders of record as of May 1, 2025.

What is the distribution amount for PAA Series A Preferred Units in Q1 2025?

PAA Series A Preferred Units will receive $0.61524 per unit (approximately $2.46 annualized).

When will Plains All American Pipeline (PAA) release its Q1 2025 earnings?

PAA will release Q1 2025 earnings before market open on Friday, May 9, 2025.