DT Midstream Announces Stock Repurchase

Rhea-AI Summary

DT Midstream (NYSE: DTM) announced the approval of a stock repurchase program totaling 125,000 shares to counterbalance shares issued under its 2022 stock-based compensation program. The repurchases will occur in the open market or through negotiated transactions until the end of the fiscal year, unless adjusted by the Board. This move is part of the company’s strategy to enhance shareholder value while ensuring sustainable practices, aiming for net zero greenhouse gas emissions by 2050 and a 30% carbon emissions reduction in the next decade.

Positive

• Approval of 125,000 share buyback enhances shareholder value.
• Company's commitment to net zero emissions by 2050 signals long-term sustainability.

Negative

• None.

DETROIT, Feb. 28, 2022 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE: DTM) today announced that its Board of Directors has approved the repurchase of up to an aggregate of one hundred twenty five thousand (125,000) shares of its common stock to offset an equivalent amount of common shares issued under its 2022 stock-based compensation program.

The repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase program is expected to continue through the end of the current fiscal year unless extended or shortened by the Board of Directors.

About DT Midstream

DT Midstream (NYSE: DTM) is an owner, operator and developer of natural gas interstate and intrastate pipelines, storage and gathering systems, compression, treatment, and surface facilities. The Company transports clean, natural gas for utilities, power plants, marketers, large industrial customers, and energy producers across the Southern, Northeastern and Midwestern United States and Canada. The Detroit-based company offers a comprehensive, wellhead-to-market array of services, including natural gas transportation, storage and gathering. DT Midstream is transitioning towards net zero greenhouse gas emissions by 2050, including a target of achieving 30% of its carbon emissions reduction in the next decade.

Contact
	Investors/Analysts
	Todd Lohrmann, DT Midstream, 313.774.2424
	investor_relations@dtmidstream.com

FAQ

What is the purpose of DT Midstream's stock repurchase program?

The stock repurchase program aims to offset shares issued under the 2022 stock-based compensation program.

How many shares is DT Midstream repurchasing?

DT Midstream is repurchasing up to 125,000 shares of its common stock.

When will the stock buyback program take place?

The stock buyback program is expected to continue until the end of the current fiscal year, unless extended.

What impact will the share repurchase have on DTM's stock price?

The share repurchase program is anticipated to enhance shareholder value, potentially supporting the stock price.