Apr 24, 2003 |
PAA Announces Distribution Increase on Common and Subordinated Units |
(Houston – April 24, 2003) Plains All American Pipeline, L.P. (NYSE: PAA) today announced a cash distribution of $0.55 per unit on its outstanding limited partner units, which include Common Units, Class B Common Units and Subordinated Units. The distribution will be payable on May 15, 2003, to holders of record of such units at the close of business on May 5, 2003. The distribution represents a $0.0125 increase over the previous quarter’s distribution and effectively increases the annualized distribution rate by $0.05 per unit to $2.20 per unit. Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil transportation, terminalling and storage, as well as crude oil and LPG gathering and marketing activities, primarily in Texas, California, Oklahoma and Louisiana and the Canadian Provinces of Alberta and Saskatchewan. The Partnership’s common units are traded on the New York Stock Exchange under the symbol “PAA.” The Partnership is headquartered in Houston, Texas.
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