Welcome to our dedicated page for Arcadium Lithium plc news (Ticker: ALTM), a resource for investors and traders seeking the latest updates and insights on Arcadium Lithium plc stock.
Arcadium Lithium plc (NYSE: ALTM, ASX: LTM) is a leading global producer of lithium chemicals, formed through the merger of Allkem and Livent in January 2024. Arcadium Lithium stands to benefit significantly from the growing demand for lithium, driven primarily by the increasing adoption of electric vehicles (EVs). Lithium is a key component in the production of EV batteries, and Arcadium Lithium produces lithium carbonate at low cost from two brine resources in Argentina. The company also produces spodumene, a hard rock lithium concentrate, from a mine in Australia and operates downstream lithium hydroxide conversion plants in the United States and China.
As a combined entity, Arcadium Lithium boasts a robust portfolio of assets, including premier lithium resources and manufacturing sites strategically located across the globe. The company is committed to safe and responsible operations, emphasizing sustainability and a reduced carbon footprint. Arcadium Lithium's vertically integrated business model enhances operational flexibility and predictability while lowering costs.
Recent achievements include the successful completion of the merger between Livent and Allkem, approved by shareholders and completed on January 4, 2024. The new company is well-positioned to meet the growing needs of the lithium market, with a combined revenue of approximately USD 1.9 billion in 2022 and a global team of over 2,600 employees. Arcadium Lithium's shares began trading on the NYSE under the ticker "ALTM" and on the ASX under the ticker "LTM" from January 2024.
The company is progressing with several expansion projects, including new lithium carbonate and hydroxide production capacities. Arcadium Lithium aims to increase its output significantly by 2026, leveraging its extensive pipeline of development projects and technical expertise. Financially, the company is focusing on achieving cost synergies and optimizing capital expenditures, with an expectation of substantial savings in the near term.
Arcadium Lithium's operations span multiple countries, including Argentina, Australia, Canada, China, Japan, the United Kingdom, and the United States. This global footprint allows the company to better serve its diverse customer base and drive innovation in renewable energy and electric transportation. For more information, visit the company's website at www.ArcadiumLithium.com.
Kinetik Holdings (NASDAQ: KNTK) announced the successful completion of a comprehensive refinancing involving a new $1.25 billion unsecured revolving credit facility and a $2.0 billion unsecured term loan A facility. This refinancing leads to a fully unsecured capital structure.
Kinetik also issued $1.0 billion in sustainability-linked senior notes due 2030, aimed at enhancing liquidity and aligning with sustainability performance targets. Additionally, Kinetik's Class A Common Stock will begin trading on a stock split adjusted basis from June 9, 2022, following a two-for-one stock split.
Kinetik Holdings has announced a two-for-one stock split aimed at enhancing liquidity and making the stock more accessible to investors. The split will occur through a stock dividend, providing one additional share for each existing share, effective June 8, 2022. Post-split, Kinetik will have approximately 135 million shares outstanding, with a planned quarterly dividend of $0.75 per share starting from the second quarter of 2022. This initiative reflects the company's strategy to improve shareholder value and attract new investors.
Kinetik Holdings Inc. announced strong financial results for Q1 2022, emphasizing robust operational execution following its merger with Altus Midstream on February 22, 2022. The company processed 1.11 Bcf/d of natural gas, generating Pro Forma Adjusted EBITDA of $191 million, distributable cash flow of $145 million, and free cash flow of $119 million. Kinetik also signed new agreements for 360 MMcf/d and plans expansions for the Permian Highway and Gulf Coast Express pipelines. The declared dividend is $1.50 per share, payable on May 17, 2022, with ongoing efforts to reduce outstanding preferred units.
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