Plains All American Pipeline, L.P. (PAA) will raise its quarterly distribution by 20.0 percent to $0.36 per common unit in 2019. This marks the first increase since 2015 by the MLP and follows double digit cuts in both 2016 and 2017.
The next distribution will be payable on May 15, 2019 to holders of record at the close of business on May 1, 2019. A new annual rate of $1.44 yields 5.9% at a stock price of $24.58 for PAA.
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"), 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. PAA is headquartered in Houston, Texas.
2023