Business & Finance
Tue, January 10, 2012
HOUSTON--([ BUSINESS WIRE ])--PAA Natural Gas Storage, L.P. (NYSE:[ PNG ]) today announced its quarterly cash distribution of $0.3575 per unit ($1.43 per unit on an annualized basis) on all of its outstanding common and Series A subordinated units. The distribution will be payable on February 14, 2012, to holders of record of such units at the close of business on February 3, 2012. This distribution is equal to the quarterly distribution paid in November 2011, and represents an increase of approximately 3.6% over the quarterly distribution of $0.345 per unit ($1.38 per unit on an annualized basis) paid in February 2011.
PAA Natural Gas Storage is a publicly traded master limited partnership engaged in the development, acquisition, operation and commercial management of natural gas storage facilities. The Partnership currently owns and operates three natural gas storage facilities located in Louisiana, Mississippi and Michigan. The Partnership's general partner, as well as the majority of the Partnership's limited partner interests, is owned by Plains All American Pipeline, L.P (NYSE: PAA). PNG is headquartered in Houston, TX.