Plains All American Pipeline, L.P. Announces Quarterly Cash Distribution, Payable on February 14, 2013; Increases Earnings Guidance for the Year 2013
January 07, 2013 at 10:05 am
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Plains All American Pipeline, L.P. announced a quarterly cash distribution of $0.5625 per unit ($2.25 per unit on an annualized basis) on all of its outstanding limited partner units. The distribution will be payable on February 14, 2013, to holders of record of such units at the close of business on February 1, 2013.
The company increased earnings guidance for the year 2013. For the year, the company's adjusted earnings before interest, taxes, depreciation and amortization by approximately 5% over the $1.925 billion preliminary adjusted EBITDA midpoint guidance provided in early November 2012.
Plains All American Pipeline, L.P. is a midstream service provider in North America. The Company owns a network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and natural gas liquids (NGL) producing basins (including the Permian Basin) and transportation corridors and at major market hubs in the United States and Canada. It has two segments: Crude Oil and Natural Gas Liquids (NGL). Its Crude Oil segment operations generally consist of gathering and transporting crude oil using pipelines, gathering systems, trucks and at times on barges or railcars, in addition to providing terminalling, storage and other facilities-related services utilizing its integrated assets across the United States and Canada. Its NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. NGL segment is involved in gathering, fractionation, storage, and/or terminalling services to third-party customers.
PLAINS ALL AMERICAN PIPELINE, L.P. 
