Archrock Announces Quarterly Cash Dividend
25 Juillet 2024 - 10:05PM
Archrock, Inc. (NYSE: AROC) (“Archrock” or the “Company”) today
announced that its Board of Directors has declared a quarterly
dividend of $0.165 per share of common stock, or $0.66 per share on
an annualized basis. The second quarter 2024 dividend will be paid
on August 13, 2024 to all stockholders of record on August 6, 2024.
The second quarter 2024 dividend per share
amount is consistent with Archrock’s first quarter 2024 dividend
and represents a year-over-year increase of 6 percent.
“Archrock continues to prioritize returning
capital to our shareholders through a well-covered dividend,” said
Brad Childers, Archrock’s President and Chief Executive Officer.
“We are excited about the pending acquisition of Total Operations
and Production Services, which is expected to close by the end of
2024 and be immediately accretive to earnings per share and cash
available for dividend per share. We believe the increase in
pro-forma discretionary cash flow will further enhance our
financial flexibility and capacity to increase dividends to our
shareholders over time.”
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 a
premier 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 the Company 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 the expected benefits of
the proposed acquisition of Total Operations and Production
Services, LLC, including its expected accretion and the expected
impact on Archrock’s dividend growth and dividend coverage; and the
anticipated completion of the proposed acquisition and the timing
thereof. 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,
2023, and as set forth from time to time in Archrock’s filings with
the Securities and Exchange Commission. These filings are available
online at www.sec.gov and www.archrock.com.
For information, contact:
Megan RepineVice President, Investor
Relations(281) 836-8360investor.relations@archrock.com
Archrock (NYSE:AROC)
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