HOUSTON--(BUSINESS WIRE)--Plains All American Pipeline, L.P. (NYSE:PAA) today announced a quarterly cash distribution of $1.045 per unit ($4.18 per unit on an annualized basis) on all of its outstanding limited partner units. The distribution will be payable on May 15, 2012, to holders of record of such units at the close of business on May 4, 2012. This distribution represents an increase of 7.7% over the quarterly distribution of $0.97 per unit ($3.88 per unit on an annualized basis) paid in May 2011 and an increase of approximately 2.0% over the quarterly distribution of $1.025 per unit ($4.10 per unit on an annualized basis) paid in February 2012. As of this distribution, PAA will have increased its quarterly distribution to limited partners in 30 out of the past 32 quarters and consecutively in each of the past 11 quarters.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE:PNG), PAA owns and operates natural gas storage facilities. PAA is headquartered in Houston, Texas.