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Plains All American boosts quarterly distribution

HOUSTON (AP) -- Plains All American Pipeline LP on Monday boosted its quarterly cash distribution to 57.5 cents per unit.

The new distribution represents an increase of 1.25 cents, or 2.2 percent, over the Houston-based pipeline operator's February payout of 56.25 cents. It will be paid on May 15 to unit holders of record as of May 3.

Plains All American's common units rose 97 cents, or nearly 2 percent, to $55.72 in midday trading.