Plains All American Pipeline, L.P. (PAA) will raise its quarterly distribution to $0.30 per common unit. Cash retained will be used to reduce indebtedness, according to the company.
The distribution will be payable on November 14, 2017 to holders of record at the close of business on October 31, 2017.
Plains All American Pipeline, L.P. 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"), natural gas and refined products.