Plains GP Holdings cuts distribution by 45.5 percent

Plains GP Holdings (PAGP) will lower its quarterly distribution to $0.30 per Class A share. Cash retained will be used to reduce indebtedness, according to the company.

The distribution will be payable on November 14, 2017 to holders of record at the close of business on October 31, 2017.

Plains GP Holdings is a publicly traded entity that owns an interest in the general partner and incentive distribution rights of Plains All American Pipeline, L.P., one of the largest energy infrastructure and logistics companies in North America.

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