Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of Second Quarter 2026 Earnings

Plains All American Pipeline (Nasdaq:PAA) and Plains GP Holdings (Nasdaq:PAGP) declared second quarter 2026 distributions and set earnings timing.

Rhea-AI Summary

Plains All American Pipeline (Nasdaq:PAA) and Plains GP Holdings (Nasdaq:PAGP) declared second quarter 2026 distributions and set earnings timing.

PAA and PAGP will pay $0.4175 per common unit/Class A share on August 14, 2026, and release Q2 2026 earnings on August 7, 2026.

Positive

• PAA common unit distribution set at $0.4175, unchanged from May 2026
• PAGP Class A Share distribution $0.4175, unchanged from May 2026
• PAA Series A Preferred Unit distribution $0.61524 (about $2.46 annualized)
• PAA Series B Preferred Unit distribution $20.50 per unit on August 17, 2026
• Clear schedule for Q2 2026 earnings release and analyst call on August 7, 2026

Negative

• Part of PAGP’s 2026 Class A Share distribution may be taxable as a dividend
• Cash distributions above a Class A Shareholder’s tax basis may be taxable as capital gains

Argus Jul 7 session

+1.84% close to close Open Argus

Details

News Market Reaction – PAA

In the Jul 7 session, PAA gained 1.84%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Maintaining the Q2 2026 common payout at $0.4175 while setting an August 7 earnings release undersco...

Analysis

Maintaining the Q2 2026 common payout at $0.4175 while setting an August 7 earnings release underscores consistency in distributions and communication. Investors may watch how NGL divestiture effects and tax treatment of PAGP’s payouts evolve relative to prior quarters.

Key Figures

PAA common distribution: $0.4175 per unit PAA common annualized: $1.67 per unit PAGP Class A distribution: $0.4175 per share +5 more

PAA common distribution

$0.4175 per unit

Q2 2026 quarterly distribution, unchanged vs May 2026

PAA common annualized

$1.67 per unit

Annualized rate based on Q2 2026 distribution

PAGP Class A distribution

$0.4175 per share

Q2 2026 quarterly distribution, unchanged vs May 2026

PAA Series A preferred distribution

$0.61524 per unit

Q2 2026 quarterly preferred distribution (~$2.46 annualized)

PAA Series B preferred distribution

$20.50 per unit

Q2 2026 quarterly floating-rate distribution, payable Aug 17, 2026

PAA/PAGP pay date

August 14, 2026

Payable date for Q2 2026 PAA common and PAGP Class A distributions

PAA/PAGP record date

July 31, 2026

Record date for Q2 2026 PAA common and PAGP Class A distributions

Pre-headline price

$22.27

PAA unit price before Q2 2026 distribution and earnings-timing news

Previous Earnings Reports

5 past events · Latest: Apr 06

Same Type 5 events

1. Apr 06

   Quarterly distributions notice

   24h Move

   +1.9%

   Announced Q1 2026 distributions and set date and call for earnings release.

2. Jan 05

   Quarterly distributions notice

   24h Move

   -1.3%

   Declared Q4 2025 distributions, including a common/unit increase, and scheduled earnings.

3. Oct 02

   Quarterly distributions notice

   24h Move

   -0.8%

   Outlined Q3 2025 distributions across unit classes and provided earnings timing details.

4. Jul 02

   Quarterly distributions notice

   24h Move

   +0.5%

   Maintained Q2 2025 common and preferred distributions and scheduled earnings release and call.

5. May 09

   Earnings report

   24h Move

   -3.0%

   Reported strong Q1 2025 results with higher income and cash flow and declared distribution.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

earnings and profits, return of capital, capital gain, form 8937, +1 more

5 terms

earnings and profits financial

"it is possible that PAGP will report positive current earnings and profits for the Tax Year 2026"

Earnings and profits describe the money a business keeps after covering its costs and expenses; 'earnings' usually means the final bottom-line amount while 'profits' can refer to that or to earlier stages after some costs are deducted. Investors watch these figures as a measure of a company's ability to grow, pay dividends and justify its stock price—think of it like a household’s leftover income after all bills, savings and necessary spending are paid.

return of capital financial

"when routine PAGP distributions will shift from being a return of capital to being taxed as dividends"

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

capital gain financial

"to the extent any cash distribution exceeds a Class A Shareholder’s tax basis, it should be taxable as a capital gain"

A capital gain is the profit an investor earns when they sell an asset — such as a stock, bond, or property — for more than they originally paid. Think of it like selling a used car for more than you bought it: the difference is your gain. Capital gains matter because they increase an investor’s overall return and can affect taxable income, which influences net profit from an investment.

form 8937 regulatory

"Plains will publish Form 8937, Report of Organizational Actions Affecting Basis of Securities"

Form 8937 is a U.S. Internal Revenue Service disclosure companies file to explain how a corporate action—like a merger, spin-off, or stock split—changes the tax cost (tax basis) of an investor’s shares. It matters because that tax cost determines how much profit or loss you report when you sell, so the form is like an instruction sheet showing how to split or adjust the original purchase price for tax reporting.

treasury regulation section 1.1446 regulatory

"Qualified Notices under Treasury Regulation Section 1.1446 with respect to the PAA Common Unit distribution"

Treasury Regulation section 1.1446 sets the U.S. tax rules for withholding on income that flow through partnerships and is effectively connected to a U.S. trade or business when some owners are foreign. For investors, it matters because it can require a partnership or withholding agent to hold back tax from distributions to foreign partners, reducing cash received and adding compliance cost and timing uncertainty—think of it like a required tax “reserve” taken before you get paid.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HOUSTON, July 06, 2026 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) announced today their quarterly distributions with respect to the second quarter of 2026 and also announced timing of second quarter 2026 earnings.

Second Quarter Distribution Declaration

PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on August 14, 2026, to holders of the respective securities at the close of business on July 31, 2026:

• PAA Common Units – $0.4175 per Common Unit ($1.67 per unit on an annualized basis), which is unchanged from the distribution paid in May 2026.
• PAGP Class A Shares – $0.4175 per Class A Share ($1.67 per Class A Share on an annualized basis), which is unchanged from the distribution paid in May 2026.
• PAA Series A Preferred Units – $0.61524 per Series A Preferred Unit (approximately $2.46 per unit on an annualized basis).
  

For its Series B Preferred Units, PAA announced a quarterly distribution of $20.50 per Series B Unit (based on the applicable quarterly floating rate), which will be payable on August 17, 2026, to holders of record at the close of business on August 3, 2026.

Although equity holders should consult their own tax advisor regarding their particular circumstances, following the close of the NGL asset sale, it is possible that PAGP will report positive current earnings and profits for the Tax Year 2026, making part of its Class A Share cash distribution taxable as a dividend. The transaction is not estimated to result in a material change in the previous forecast regarding when routine PAGP distributions will shift from being a return of capital to being taxed as dividends or when PAGP will become a taxpaying entity. Following payment of quarterly distributions, Plains will publish Form 8937, Report of Organizational Actions Affecting Basis of Securities to clarify the expected portion of the quarterly distribution that will be taxed as a dividend. In addition, to the extent any cash distribution exceeds a Class A Shareholder’s tax basis, it should be taxable as a capital gain. Qualified Notices under Treasury Regulation Section 1.1446 with respect to the PAA Common Unit distribution and PAA Series B Preferred Unit distribution will be posted on the Plains website under “Investor Relations – Unit Information.”  

Second Quarter 2026 Earnings Timing

PAA and PAGP also announced that they will release second quarter 2026 earnings before market open on Friday, August 7, 2026. Following the announcement, PAA and PAGP will host a conference call at 9:00 a.m. CT (10 a.m. ET) with analysts and investors to discuss earnings. The call will be webcast live on the internet and may be accessed through the "Investors Relations” section of the website at www.plains.com. An audio replay will be available on the website after the call.

About Plains

PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil. PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada.

PAGP is a publicly traded entity that owns an indirect, non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America. 

PAA and PAGP are headquartered in Houston, Texas. More information is available at www.plains.com.

Investor Relations Contacts:
Blake Fernandez
Ross Hovde
PlainsIR@plains.com
(866) 809-1291

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the PAA (Nasdaq:PAA) second quarter 2026 common unit distribution?

PAA declared a Q2 2026 common unit distribution of $0.4175 per unit, or $1.67 annualized. According to Plains, this payment is unchanged from May 2026 and will be paid August 14, 2026 to holders of record on July 31, 2026.

What quarterly dividend did PAGP (Nasdaq:PAGP) announce for Class A shares for Q2 2026?

PAGP announced a $0.4175 per Class A Share Q2 2026 cash distribution, or $1.67 annualized. According to Plains, this amount matches the May 2026 payout and will be paid August 14, 2026 to shareholders of record on July 31, 2026.

What are the 2026 distribution amounts for PAA Series A and Series B preferred units?

For Q2 2026, PAA will pay $0.61524 per Series A Preferred Unit and $20.50 per Series B Unit. According to Plains, Series A pays August 14, 2026, while Series B pays August 17, 2026 to holders of record on August 3, 2026.

When will PAA and PAGP report second quarter 2026 earnings and host the call?

PAA and PAGP plan to release Q2 2026 earnings on August 7, 2026, before market open. According to Plains, an analyst and investor conference call will follow at 9:00 a.m. CT (10:00 a.m. ET), with a live webcast on the company website.

How could the 2026 NGL asset sale affect PAGP Class A Share tax treatment?

Following the NGL asset sale, it is possible PAGP reports positive 2026 earnings and profits, making part of its Class A distribution taxable as a dividend. According to Plains, this is not estimated to materially change the previous forecast on routine distribution tax character.

Where can investors find tax and Qualified Notice information for PAA and PAGP distributions?

Plains plans to publish Form 8937 after paying quarterly distributions to show the portion treated as dividends. According to Plains, Qualified Notices for PAA common and Series B distributions will appear under “Investor Relations – Unit Information” on the company website.

How will excess PAGP cash distributions above tax basis be treated for shareholders in 2026?

Any PAGP Class A Share cash distribution that exceeds a shareholder’s tax basis should be taxable as a capital gain. According to Plains, investors should consult their own tax advisors to understand their individual situations and how the 2026 distributions may be treated.