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Plains All American, Plains GP Holdings cut quarterly distributions

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Plains All American, Plains GP Holdings cut quarterly distributions

In linewith previously announced cost-of-capitalreduction plans, PlainsAll American Pipeline LP reduced its quarterly distribution by 21%,to 55 cents per common unit, or $2.20 annualized.

Plains alsowill issue a payment in kind of the quarterly distribution on its series Apreferred units amounting to 1,262,522 additional preferred units. The amountis equivalent to a distribution of 52.5 cents per preferred unit, or $2.10annualized, the partnership said in a Sept. 30 news release.

At the sametime, Plains GP Holdings LPdeclared a quarterly distribution of 20.65 cents per class A share, or 82.6cents annualized. The distribution represents an 11% decrease from the previousquarter's distribution.

Thedistributions will be payable Nov. 14 to holders of record at the close ofbusiness Oct. 31.