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Data last updated: Sep 06, 2026
Snapshot (as of Sep 06, 2026): Plains All American Pipeline, L.P. (PAA) pays a $1.63 annual dividend ($0.42 quarterly), yielding 6.35% at $25.70/share. Next ex-dividend date 2026-07-31. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 6.35%
Annual Dividend: $1.63 per share
Payout Ratio: 48.4%
Ex-Dividend Date: 2026-07-31
Dividend Frequency: quarterly
Sector: Energy
Years of Dividend History: 28
Plains All American Pipeline, L.P. dividend income comes from one of North America's largest crude oil and NGL midstream operators. PAA moves crude oil through pipelines, trucks, barges, and railcars, and handles NGL fractionation, storage, and transportation across the U.S. and Canada. The trailing annual dividend rate is $1.6325 per share, paid quarterly, with the next ex-dividend date on July 31, 2026. At a 6.35% yield and a beta of 0.488, PAA stock draws income-focused investors who want above-average yield with below-average price volatility.
Plains All American Pipeline, L.P. pays out 48.4% of earnings as dividends, a payout ratio classified as moderate (40–60%). That level leaves meaningful room between the dividend and earnings, which is a buffer income investors value. Plains All American Pipeline, L.P. dividend safety is further supported by the nature of its business: pipeline transportation and terminalling services generate fee-based revenue tied to crude oil and NGL volumes moving through its network. The main pressure point is commodity volume exposure — if throughput on PAA's crude oil or NGL systems declines, earnings and the dividend cushion shrink with it.
Plains All American Pipeline, L.P. dividend history shows a CAGR of -2.6% per year from 2005 to 2025. The per-share rate fell from $2.5750 at the start of the window to $1.5200 by 2025 (2026 is a partial year and excluded from this 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%, which explains the negative long-run growth rate. Four consecutive years of increases through 2025 show recent momentum, but the overall trend is one of contraction, not growth.
| 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 fits income-focused investors who prioritize yield over dividend growth. The current yield of 6.35% is classified as high (above 4%), and it sits well above the 5-year average yield of 4.21%, meaning buyers today are locking in a historically elevated payout relative to recent norms. The 48.4% payout ratio keeps the dividend from looking stretched. What investors accept in exchange is a long-run dividend record that has contracted over time: the 20-year CAGR is -2.6%. The four consecutive years of recent increases are a positive signal, but the history is too uneven to treat PAA as a dividend growth story. The trade-off is clear: high current income from a large midstream operator, with limited expectation of meaningful per-share dividend growth.
| 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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