Plains All American Pipeline hikes distribution by 19.7%
Plains All American Pipeline, L.P. (PAA) will raise its quarterly distribution by 19.7% to $0.38 quarterly per share/unit.
This marks the 4th consecutive year of increased distributions by PAA. The dividend yield is 8.1% at a stock price of $18.85.
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.