Plains All American Pipeline & Plains GP Holdings Announce Distributions

Source: www.gulfoilandgas.com 7/6/2021, Location: North America

Plains All American Pipeline, L.P. and Plains GP Holdings 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.


United States >>  12/30/2024 -  Government contracts, including agreements with the U.S. Federal Government, municipalities, and contractors, drive revenue growth
Greenwa...

United States >>  12/30/2024 - Worksport Ltd. (“Worksport” or the “Company”), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overl...

United States >>  12/30/2024 - NANO Nuclear Energy Inc. (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing portable, c...
Canada >>  12/27/2024 - Wedgemount Resources Corp. ("Wedgemount" or the "Company") is providing a second update with respect to its previously announced management cease trad...

Singapore >>  12/27/2024 - PSA Singapore (PSA) reached a significant milestone on 24 December, handling over 40 million Twenty-foot Equivalent Units (TEUs) in 2024. This new rec...
United States >>  12/27/2024 - Hyliion Holdings Corp. (“Hyliion”), a developer of sustainable electricity-producing technology, reported its third-quarter 2024 financial results on ...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.