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Data last updated: Oct 19, 2026
Snapshot (as of Oct 19, 2026): Plains All American Pipeline, L.P. (PAA) pays a $1.63 annual dividend ($0.42 quarterly), yielding 6.61% at $25.25/share. Next ex-dividend date 2026-10-30. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 6.61%
Annual Dividend: $1.63 per share
Payout Ratio: 137.5%
Ex-Dividend Date: 2026-10-30
Dividend Frequency: quarterly
Sector: Energy
Years of Dividend History: 28
Plains All American Pipeline, L.P. dividend investors are looking at a midstream energy partnership that moves crude oil and natural gas liquids across the United States and Canada. The current yield stands at 6.86%, paid quarterly, with trailing twelve-month payments totaling $1.6330 per share. The next ex-dividend date is October 30, 2026, with the last declared payment at $0.4180 per quarter. A beta of 0.547 points to below-average price volatility, which suits income-focused investors who want yield without sharp swings in the underlying unit price.
Plains All American Pipeline, L.P. pays out 137.5% of earnings as dividends, a payout ratio classified as high (above 75%). That figure exceeds 100%, meaning the partnership is currently paying more in distributions than it earns on a reported earnings basis, which is common in midstream MLPs where depreciation-heavy accounting can depress net income relative to actual cash generation. Plains All American Pipeline, L.P. dividend safety is further shaped by the nature of its business: pipeline transportation, terminalling, and storage services tied to crude oil and NGL volumes, which tend to generate recurring fee-based revenue. The most significant pressure point is that a payout ratio above 100% leaves no earnings cushion, and any sustained drop in throughput volumes would put the distribution under strain.
Plains All American Pipeline, L.P. dividend history shows a CAGR of 0.3% per year from 2006 to 2025. Per-share annual payments moved from $1.4351 to $1.5200 over that window (2026 is a partial year and excluded from the CAGR calculation). The largest annual increase in the window was 43.6% in 2007, but the history also contains at least one year-over-year decline exceeding 5%, and the overall trajectory from 2012's $2.1100 to 2025's $1.5200 reflects a distribution that was cut deeply and has only partially recovered. Growth is slow, and the 0.3% CAGR means the per-share payout has barely kept pace with anything over nearly two decades.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +22.1% | $0.83 (2022) | $1.52 (2025) |
| 5-Year | +11.1% | $0.90 (2020) | $1.52 (2025) |
| 10-Year | -5.8% | $2.75 (2015) | $1.52 (2025) |
PAA stock fits income-focused investors who prioritize a high current yield over distribution growth. The yield of 6.86% is classified as high (above 4%), though it sits slightly below the 5-year average of 7.1%, meaning the unit price has risen relative to recent norms. The trade-off is clear: the payout ratio of 137.5% and a long-term CAGR of just 0.3% mean this is not a growth story. Plains All American Pipeline, L.P. offers meaningful quarterly income from a midstream business built around pipeline transportation and NGL services, but investors accept a distribution history that includes deep cuts and slow recovery in exchange for that yield.
| Payment Date | Amount per Share |
|---|---|
| 2026-07-31 | $0.4175 |
| 2026-05-01 | $0.4175 |
| 2026-01-30 | $0.4175 |
| 2025-10-31 | $0.3800 |
| 2025-07-31 | $0.3800 |
| 2025-05-01 | $0.3800 |
| 2025-01-31 | $0.3800 |
| 2024-10-31 | $0.3175 |
| 2024-07-31 | $0.3175 |
| 2024-04-30 | $0.3175 |
| Year | Total Dividends |
|---|---|
| 2026 | $1.2525 |
| 2025 | $1.5200 |
| 2024 | $1.2700 |
| 2023 | $1.0705 |
| 2022 | $0.8340 |
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