Plains GP Holdings, L.P. Announces Quarterly Cash Distribution for the First Quarter of 2022, Payable on May 13, 2022
April 05, 2022 at 05:00 pm EDT
Share
Plains GP Holdings, L.P. announced a quarterly cash distribution of $0.2175 per Class A share ($0.87 per Class A share on an annualized basis) with respect to the first quarter of 2022, which also reflects a $0.0375 increase from the distribution paid in February 2022 ($0.15 per unit, or 21%, on an annualized basis). The distribution will be payable on May 13, 2022, to holders of record of security at the close of business on April 29, 2022. The company cash distribution is expected to be a non-taxable return of capital to the extent of a Class A Shareholder's tax basis in each the company's Class A Share and a reduction in the tax basis of that Class A Share.
To the extent any cash distribution exceeds a Class A Shareholder's tax basis, it should be taxable as capital gains.
Plains GP Holdings, L.P. is a limited partnership. The Company owns and operates critical midstream infrastructure systems that connect various producing regions to key demand centers and export terminals. The Company operates through two segments: Crude Oil and Natural Gas Liquids (NGL). The 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 related services utilizing its integrated assets across the United States and Canada. The NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. The NGL segment is engaged in providing gathering, fractionation, storage, and/or terminalling services to third-party customers for a fee, extracting NGL mix from the gas stream processed at its Empress straddle plant facility as well as acquiring NGL mix.
PLAINS GP HOLDINGS, L.P. 
