Archrock Increases Quarterly Cash Dividend
Archrock (NYSE: AROC) announced an increased quarterly dividend of $0.175 per share, equivalent to $0.70 annually. The dividend will be paid on November 13, 2024, to stockholders of record as of November 6, 2024. This represents a 6% increase from Q2 2024 and a 13% increase year-over-year. The company attributes the increase to strong natural gas demand growth, platform transformation, and the accretive TOPS acquisition. Management expressed commitment to high-return investments while maintaining prudent dividend and leverage coverage ratios.
Archrock (NYSE: AROC) ha annunciato un aumento del dividendo trimestrale a 0,175 dollari per azione, equivalente a 0,70 dollari annuali. Il dividendo sarà corrisposto il 13 novembre 2024 agli azionisti registrati al 6 novembre 2024. Questo rappresenta un aumento del 6% rispetto al Q2 2024 e un incremento del 13% rispetto all'anno precedente. L'azienda attribuisce questo aumento alla forte crescita della domanda di gas naturale, alla trasformazione della piattaforma e all'acquisizione accretiva di TOPS. La direzione ha espresso il proprio impegno in investimenti ad alto rendimento, mantenendo nel contempo rapporti prudenti di dividendo e copertura del debito.
Archrock (NYSE: AROC) anunció un aumento del dividendo trimestral a $0.175 por acción, equivalente a $0.70 anuales. El dividendo se pagará el 13 de noviembre de 2024, a los accionistas registrados hasta el 6 de noviembre de 2024. Esto representa un aumento del 6% con respecto al Q2 2024 y un incremento del 13% en comparación con el año anterior. La compañía atribuye el aumento a la fuerte demanda de gas natural, la transformación de la plataforma y la adquisición accretiva de TOPS. La dirección expresó su compromiso con inversiones de alto rendimiento, mientras mantiene proporciones de cobertura de dividendos y apalancamiento prudentes.
Archrock (NYSE: AROC)는 분기 배당금을 주당 $0.175로 증가시켰으며, 이는 연간 $0.70에 해당합니다. 배당금은 2024년 11월 13일에 2024년 11월 6일 현재 주주에게 지급됩니다. 이는 2024년 2분기 대비 6% 증가한 수치이며, 전년 대비 13% 증가한 것입니다. 회사는 가스 수요의 강력한 성장, 플랫폼 전환 및 TOPS 인수로 인해 증가했다고 설명했습니다. 경영진은 고수익 투자에 대한 의지를 표명하면서도 신중한 배당금 및 레버리지 비율 유지에 집중하고 있습니다.
Archrock (NYSE: AROC) a annoncé une augmentation du dividende trimestriel à 0,175 $ par action, soit 0,70 $ par an. Le dividende sera payé le 13 novembre 2024 aux actionnaires enregistrés au 6 novembre 2024. Cela représente une augmentation de 6% par rapport au Q2 2024 et une augmentation de 13% d'une année sur l'autre. L'entreprise attribue cette hausse à la forte demande en gaz naturel, à la transformation de la plateforme et à l'acquisition créatrice de valeur de TOPS. La direction a exprimé son engagement envers des investissements à fort rendement, tout en maintenant des ratios de couverture de dividende et de levier prudents.
Archrock (NYSE: AROC) hat eine Erhöhung der vierteljährlichen Dividende auf 0,175 USD pro Aktie bekannt gegeben, was 0,70 USD jährlich entspricht. Die Dividende wird am 13. November 2024 an die Aktionäre ausgezahlt, die am 6. November 2024 eingetragen sind. Dies stellt eine Erhöhung von 6% im Vergleich zum Q2 2024 und 13% im Jahresvergleich dar. Das Unternehmen führt die Erhöhung auf die starke Nachfrage nach Erdgas, die Transformation der Plattform und die wertsteigernde TOPS-Akquisition zurück. Das Management bekräftigte sein Engagement für Investitionen mit hoher Rendite und hält gleichzeitig vorsichtige Dividenden- und Verschuldungsdeckungsquoten ein.
- Quarterly dividend increased by 6% quarter-over-quarter
- 13% dividend increase year-over-year
- TOPS acquisition immediately accretive to dividend-available cash
- Fourth dividend increase in two years showing consistent growth
- None.
HOUSTON, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock” or the “Company”) today announced that its Board of Directors has declared an increased quarterly dividend of
The third quarter 2024 dividend per share amount represents an increase of 6 percent over the Archrock second quarter 2024 dividend level and an increase of 13 percent over the Archrock third quarter 2023 dividend level.
“We are implementing the second increase in Archrock’s quarterly cash dividend for 2024 and fourth increase in the last two years reflecting our confidence in enduring demand growth for natural gas and our transformed platform, which are delivering excellent and consistent results. In addition, the recent acquisition of TOPS was immediately accretive to our cash available for dividend,” said Brad Childers, Archrock’s President and Chief Executive Officer.
“We remain committed to investing in high-return investments required to support our customers and increasing cash returns to shareholders, while maintaining prudent dividend and leverage coverage ratios. We look forward to updating you on our results and integration progress on our third quarter 2024 earnings call in November,” 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 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 AMERICATM, 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, 2023, Archrock’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024 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 Repine
Vice President, Investor Relations
(281) 836-8360
investor.relations@archrock.com
FAQ
What is Archrock's new quarterly dividend for Q3 2024?
When will Archrock (AROC) pay its Q3 2024 dividend?
How much did Archrock increase its dividend compared to Q2 2024?
How many dividend increases has Archrock (AROC) implemented in the last two years?
