Plains All American Pipeline, L.P. (NYSE: PAA) today announced a quarterly cash distribution of $0.5875 per unit ($2.35 per unit on an annualized basis) on all of its outstanding limited partner units. The distribution will be payable on August 14, 2013 to holders of record at the close of business on August 2, 2013. This distribution represents an increase of 10.3% over the quarterly distribution of $0.5325 per unit ($2.13 per unit on an annualized basis) paid in August 2012 and an increase of approximately 2.2% over the quarterly distribution of $0.5750 per unit ($2.30 per unit on an annualized basis) paid in May 2013. As of this distribution, PAA will have increased its quarterly distribution to limited partners in 35 out of the past 37 quarters and consecutively in each of the past 16 quarters.Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), PAA owns and operates natural gas storage facilities. PAA is headquartered in Houston, Texas.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts