HOUSTON, Feb. 28,
2025 /PRNewswire/ -- Summit Midstream Corporation
(NYSE: SMC) ("SMC" or the "Company") announced today that the
board of directors of the Company, has declared a quarterly cash
dividend on its Series A fixed-to-floating rate cumulative
redeemable perpetual preferred stock (the "Series A Preferred
Stock") for the period ended March 14,
2025. A cash dividend of $51.27 per share will be paid on the outstanding
65,508 shares on March 15, 2025 to
preferred shareholders of record as of the close of business on
March 3, 2025. All unpaid dividends
on the Series A Preferred Stock from prior periods remain
accrued.
About Summit Midstream Corporation
SMC is a value-driven corporation focused on developing, owning
and operating midstream energy infrastructure assets that are
strategically located in the core producing areas of unconventional
resource basins, primarily shale formations, in the continental
United States. SMC provides
natural gas, crude oil and produced water gathering, processing and
transportation services pursuant to primarily long-term, fee-based
agreements with customers and counterparties in five unconventional
resource basins: (i) the Williston
Basin, which includes the Bakken and Three Forks shale formations
in North Dakota; (ii) the
Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in
Colorado and Wyoming; (iii) the Fort Worth Basin, which includes the Barnett
Shale formation in Texas; (iv) the
Arkoma Basin, which includes the
Woodford and Caney shale formations in Oklahoma; and (v) the Piceance Basin, which
includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. SMC has an equity method investment
in Double E Pipeline, LLC, which provides interstate natural gas
transportation service from multiple receipt points in the
Delaware Basin to various delivery
points in and around the Waha Hub in Texas. SMC is headquartered in Houston, Texas.
Forward-Looking Statements
This press release includes certain statements concerning
expectations for the future that are forward-looking within the
meaning of the federal securities laws. Forward-looking statements
include, without limitation, any statement that may project,
indicate or imply future results, events, performance or
achievements and may contain the words "expect," "intend," "plan,"
"anticipate," "estimate," "believe," "will be," "will continue,"
"will likely result," and similar expressions, or future
conditional verbs such as "may," "will," "should," "would" and
"could," including, but not limited to, statements regarding the
timing of the dividend payment and any future dividend payments. In
addition, any statement concerning future financial performance
(including future revenues, earnings or growth rates), ongoing
business strategies and possible actions taken by SMC or its
subsidiaries are also forward-looking statements. Forward-looking
statements also contain known and unknown risks and uncertainties
(many of which are difficult to predict and beyond management's
control) that may cause SMC's actual results in future periods to
differ materially from anticipated or projected results. An
extensive list of specific material risks and uncertainties
affecting SMC is contained in its Quarterly Report on Form 10-Q for
the quarterly period ended September 30,
2024, which the Company filed with the Securities and
Exchange Commission (the "SEC") on November
12, 2024, as amended and updated from time to time,
including by the Company's Current Report on Form 8-K filed with
the SEC on January 7, 2025. Any
forward-looking statements in this press release are made as of the
date of this press release and SMC undertakes no obligation to
update or revise any forward-looking statements to reflect new
information or events.
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SOURCE Summit Midstream Corporation
