Plains All American Pipeline hikes distribution by 20.8%

Plains All American Pipeline, L.P. (PAA) will raise its quarterly distribution by 20.8 percent to 21.75 cents in Q2 of 2022. PAA last cut its quarterly distribution by 50.0 percent to $0.18 per common unit in 2020. 

The next distribution will be payable on May 13, 2022 to holders of record at the close of business on April 29, 2022. A new annual rate of $0.87 per unit yields 7.8% at a stock price of $11.15 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 a 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 6 million barrels per day of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas.

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