Excelerate Energy Announces Inaugural Quarterly Cash Dividend

Rhea-AI Summary

Excelerate Energy announced its inaugural quarterly cash dividend of $0.025 per share for the quarter ending June 30, 2022. This dividend will be paid on September 7, 2022 to shareholders on record as of August 19, 2022. The announcement reflects the company's strong balance sheet and commitment to returning capital to shareholders. The operating subsidiary will also distribute $0.025 per interest to Class B limited partnership holders. Future dividends will be determined by the Board.

Positive

• Inaugural dividend of $0.025 per share indicates financial strength.
• Demonstrates Board's confidence in business growth and strategy.

Negative

• None.

THE WOODLANDS, Texas--(BUSINESS WIRE)-- Excelerate Energy, Inc. (the “Company” or “Excelerate”) (NYSE: EE) announced today that its Board of Directors (the “Board”) declared an inaugural quarterly cash dividend, with respect to the quarter ended June 30, 2022, of $0.025 per share of Class A common stock. The dividend is payable on September 7, 2022 to Class A common stockholders of record as of the close of business on August 19, 2022.

Excelerate Energy Limited Partnership, the Company’s operating subsidiary, will make a corresponding distribution of $0.025 per interest to holders of its Class B limited partnership interests on the same date of the dividend payment.

“Today’s announcement of Excelerate’s inaugural dividend marks a milestone for us and reflects the strength of our balance sheet and the Company’s commitment to returning capital to its shareholders. This dividend demonstrates the confidence that our Board and management team have in our downstream growth strategy and the future growth of our business,” said President and Chief Executive Officer Steven Kobos.

The declaration, timing, amount, and payment of future dividends remains at the discretion of the Company’s Board of Directors.

About Excelerate Energy

Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Founded in 2003 by George B. Kaiser, Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of flexible regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding Excelerate’s future results of operations or financial condition, business strategy and plans, expansion plans and strategy, economic conditions, objectives of management for future operations and the payment of dividends and declaration of future dividends, including the timing and amount thereof, are forward-looking statements. All forward-looking statements are based on assumptions or judgments about future events that may or may not be correct or necessarily take place and that are by their nature subject to significant risks, uncertainties and contingencies, including the risk factors that Excelerate identifies in its Securities and Exchange Commission filings, many of which are outside the control of Excelerate. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Excelerate undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220805005436/en/

Investors

Craig Hicks

Excelerate Energy

Craig.Hicks@excelerateenergy.com



Media

Stephen Pettibone / Frances Jeter

Sard Verbinnen & Co

Excelerate-SVC@sardverb.com

or

media@excelerateenergy.com

Source: Excelerate Energy, Inc.

FAQ

What is the dividend amount declared by Excelerate Energy?

Excelerate Energy declared a dividend of $0.025 per share.

When will Excelerate Energy pay its inaugural dividend?

The inaugural dividend will be paid on September 7, 2022.

What is the record date for the dividend payment?

The record date for the dividend payment is August 19, 2022.

Will Excelerate Energy pay dividends in the future?

Future dividends will be at the discretion of the Board of Directors.

What does the dividend declaration indicate about Excelerate Energy?

It reflects the company's strong balance sheet and commitment to returning capital to shareholders.