Plains All American Pipeline, L.P.
PAAEnergy · Stock · quarterly payer
Forward Yield
6.84%
Annual Dividend
$1.63
Payout Ratio
140%
5-Yr Growth
16.1%
Ex-Date
Jul 31, 2026
Frequency
Quarterly
Summary
As of July 2026, Plains All American Pipeline, L.P. (PAA) yields 6.84% ($1.63 per share annually), with a blended fair-value estimate of $59.95 — +151% upside, so it screens as undervalued. Dividend safety grade: C (55/100). 4 years of dividend growth.
Is PAA a good dividend stock?
MixedPlains All American Pipeline, L.P. (PAA) pays a quarterly dividend yielding 6.84% ($1.63/yr), with 4 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Strong 16.1% 5-yr dividend growth
- 156% total price return over 5 years
Risks
- Cut its dividend in 2020
- Elevated payout ratio (140%)
Key Data
- Dividend Yield
- 6.84%
- Payout Ratio
- 140%
- Annual Dividend
- $1.63
- 5-Yr Avg Growth
- 16.1%
- Ex-Dividend Date
- Jul 31, 2026
- Years of Growth
- 4
- Frequency
- quarterly
- Beta
- 0.47
- Market Cap
- $17.2B
- P/E Ratio
- 21.5
- 5-Yr Total Return
- 156%
- 52-Week Range
- $15.69 – $24.26
- Dividend Safety
- C · 55/100
- Ever Cut?
- Yes (2020)
Frequently Asked Questions
PAA Price — Last 12 Months
Daily close
Price Return
1 Year
+33%
3 Years
+57%
5 Years
+156%
52-Week Range
$15.69 – $24.26
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PAA worth?
Undervaluedlow confidenceOur blended fair-value estimate for Plains All American Pipeline, L.P. is $59.95 per share, versus a market price of $23.87. That implies 151% of upside — a margin of safety of about 60%.
Fair Value
$59.95
Current Price
$23.87
Upside
+151%
Margin of Safety
60%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 10.7% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), 10.7% stage-1 growth, 2.5% terminal growth, $1.11 EPS, $1.63 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PAA Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| May 1, 2026 | — | $0.4180 | regular |
| Jan 30, 2026 | — | $0.4180 | regular |
| Oct 31, 2025 | — | $0.3800 | regular |
| Jul 31, 2025 | — | $0.3800 | regular |
| May 1, 2025 | — | $0.3800 | regular |
| Jan 31, 2025 | — | $0.3800 | regular |
| Oct 31, 2024 | — | $0.3180 | regular |
| Jul 31, 2024 | — | $0.3180 | regular |
| Apr 30, 2024 | — | $0.3180 | regular |
| Jan 30, 2024 | — | $0.3180 | regular |
| Oct 30, 2023 | — | $0.2680 | regular |
| Jul 28, 2023 | — | $0.2680 | regular |
| Apr 28, 2023 | — | $0.2680 | regular |
| Jan 30, 2023 | — | $0.2680 | regular |
Income Calculator
At $1.63 / yr per share
