PAA increases dividend

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The distributions will be payable on February 14, 2014 to holders of record at the close of business on January 31, 2014.

PAA increased its quarterly cash distribution to $0.6150 per unit ($2.46 per unit on an annualized basis) on all of its outstanding limited partner units. This distribution represents an increase of 9.3% over the quarterly distribution of $0.5625 per unit ($2.25 per unit on an annualized basis) paid in February 2013 and an increase of approximately 2.5% over the quarterly distribution of $0.6000 per unit ($2.40 per unit on an annualized basis) paid in November 2013. As of this distribution, PAA will have increased its quarterly distribution to limited partners in 37 out of the past 39 quarters and consecutively in each of the past 18 quarters. Based on a continuation of solid baseline financial performance, strong distribution coverage and expected contributions to cash flow from our organic capital program, PAA is targeting to increase its quarterly distribution per unit payable in November 2014 by 10% over the distribution per unit paid in November 2013.

You can find our updated profile on PAA under the MLP Tab.