Archrock Increases Quarterly Cash Dividend
25 Janeiro 2024 - 6:01PM
Archrock, Inc. (NYSE: AROC) (“Archrock”) today announced that its
Board of Directors has declared an increased quarterly dividend of
$0.165 per share of common stock, or $0.66 per share on an
annualized basis. The fourth quarter 2023 dividend will be paid on
February 13, 2024 to all stockholders of record on February 6,
2024.
The fourth quarter 2023 dividend per share
amount represents an increase of 6.5 percent over the Archrock
third quarter 2023 dividend level and an increase of 10 percent
over the Archrock fourth quarter 2022 dividend level.
“Our robust results continue to demonstrate the
power of our transformed platform and strong operational execution.
The decision to increase our dividend reflects our confidence in
the outlook for compression as well as Archrock’s industry-leading
financial flexibility and capital allocation capabilities,” said
Brad Childers, Archrock’s President and Chief Executive
Officer.
“Our increased dividend is supported by a
consistent and prudent expected dividend coverage ratio of more
than 2.0 times and leverage ratio of between 3.0 and 3.5 times by
year end 2024.
“We remain committed to improving financial
returns and returning capital to our shareholders and look forward
to updating you on our 2024 outlook during our fourth quarter 2023
earnings call in February,” concluded Childers.
About Archrock
Archrock is an energy infrastructure
company with a primary focus on midstream natural gas compression
and a commitment to helping its customers produce, compress
and transport natural gas in a safe and environmentally responsible
way. Headquartered in Houston, Texas, Archrock is the
leading provider of natural gas compression services to customers
in the energy industry throughout the U.S. and a leading
supplier of aftermarket services to customers that own compression
equipment. For more information on how Archrock embodies its
purpose, WE POWER A CLEANER AMERICA™,
visit www.archrock.com.
Forward-Looking Statements
This press release contains forward-looking
statements, which include statements about Archrock’s future
financial performance and dividends. These statements are not
guarantees of future performance or actions. Forward-looking
statements rely on a number of assumptions concerning future events
and are subject to risks and uncertainties. If one or more of these
risks or uncertainties materialize, actual results may differ
materially from those contemplated by a forward-looking statement.
Forward-looking statements speak only as of the date on which they
are made. Archrock expressly disclaims any obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise. A further list and
description of risks, uncertainties and other matters can be found
in Archrock’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2022, Archrock’s Quarterly Report on Form 10-Q for the
quarters ended March 31, 2023, June 30, 2023 and September 30, 2023
and those set forth from time to time in Archrock’s filings with
the Securities and Exchange Commission which are available at
www.archrock.com.
For information, contact:
Megan RepineVice President, Investor
Relations(281) 836-8360investor.relations@archrock.com
Archrock (NYSE:AROC)
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