MONTGOMERY, Texas, Jan. 29,
2024 /PRNewswire/ -- Kodiak Gas Services, Inc. (NYSE:
KGS), ("Kodiak" or the "Company"), a leading provider of critical
energy infrastructure and contract compression services, today
announced that its board of directors has declared a cash dividend
of $0.38 per share of common stock,
or $1.52 per share of common stock on
an annualized basis, for the fourth quarter of 2023. This cash
dividend will be paid on February 23,
2024 to all stockholders of record as of the close of
business on February 16, 2024.
Mickey McKee, Kodiak's founder
and Chief Executive Officer, stated, "Returning capital to
shareholders via our well-covered dividend is a key element of our
capital allocation strategy. Our dividend provides investors
an attractive yield on their investment while allowing Kodiak to
invest in its fleet, live within cash flow and drive towards our
long-term leverage target."
About Kodiak
Kodiak is one of the largest contract compression services
providers in the continental United
States with a revenue-generating fleet of over 3.2 million
horsepower. The Company focuses on providing contract
compression services to oil and gas producers and midstream
customers in high–volume gas gathering systems, processing
facilities, multi–well gas lift applications and natural gas
transmission systems. More information is available at
www.kodiakgas.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Forward-looking
statements can be identified by words such as: "anticipate,"
"intend," "plan," "goal," "seek," "believe," "project," "estimate,"
"expect," "strategy," "future," "likely," "may," "should," "will"
and similar references to future periods. Forward-looking
statements contained herein include the amount and timing of future
dividend payments. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. A list and description of risks,
uncertainties and other factors can be found in the "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" sections of our final prospectus filed
with the U.S. Securities and Exchange Commission (the "SEC") on
June 30, 2023 pursuant to Rule
424(b)(4) and in Part I, Item 2. "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and Part
II, Item 1A. "Risk Factors" sections of our Quarterly Report on
Form 10-Q for the quarterly period ended September 30, 2023 and filed with the SEC on
November 9, 2023. Any forward-looking
statement made by us in this news release is based only on
information currently available to us and speaks only as of the
date on which it is made. Except as may be required by applicable
law, we undertake no obligation to publicly update any
forward-looking statement whether as a result of new information,
future developments or otherwise.
Contacts:
Kodiak Gas
Services, Inc.
Graham
Sones, VP of Investor
Relations
ir@kodiakgas.com
(936) 755-3259
Dennard
Lascar Investor Relations
Ken Dennard / Rick
Black
KGS@dennardlascar.com
713-529-6600
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SOURCE Kodiak Gas Services, Inc.
