EnLink Midstream Declares Quarterly Distribution

Rhea-AI Summary

EnLink Midstream (NYSE: ENLC) has declared its quarterly distribution for the third quarter of 2024. The company's Board of Directors has approved a cash distribution of $0.1325 per common unit, which remains unchanged from the previous quarter. This distribution will be paid on November 14, 2024, to unitholders of record as of November 1, 2024.

Positive

• Maintained quarterly distribution, indicating financial stability
• Consistent cash flow to unitholders

Negative

• No increase in distribution, potentially limiting income growth for unitholders

Insights

Financial Analyst

EnLink Midstream's declaration of a $0.1325 per common unit distribution for Q3 2024 maintains the status quo, signaling stability in their cash flow and commitment to shareholder returns. This consistency is generally viewed positively, especially in the midstream sector where income-oriented investors value reliable payouts.

The unchanged distribution suggests that:

• The company's financial position remains stable, able to sustain its current payout level.
• Management is balancing shareholder returns with potential reinvestment needs or debt reduction.
• There's no immediate pressure to increase or decrease the distribution based on operational performance or market conditions.

For investors, the annualized yield based on the current distribution rate is a key metric to watch, as it impacts the stock's attractiveness as an income investment. While not growth-oriented, maintaining the distribution does provide a degree of certainty for income-focused portfolios in the energy infrastructure space.

DALLAS, Oct. 14, 2024 /PRNewswire/ -- EnLink Midstream, LLC (NYSE: ENLC) (EnLink) today announced a quarterly distribution for the third quarter of 2024.

EnLink's Board of Directors declared a cash distribution of $0.1325 per common unit for the third quarter of 2024, which is unchanged from the second quarter 2024 distribution. The third quarter 2024 cash distribution will be paid on November 14, 2024, to unitholders of record on November 1, 2024.

About EnLink Midstream
Headquartered in Dallas, EnLink Midstream (NYSE: ENLC) provides integrated midstream infrastructure services for natural gas, crude oil, condensate, and NGLs, as well as CO₂ transportation for carbon capture and sequestration (CCS). Our large-scale, cash-flow-generating asset platforms are in premier production basins and core demand centers, including the Permian Basin, Louisiana, Oklahoma, and North Texas. EnLink is focused on maintaining the financial flexibility and operational excellence that enables us to strategically grow and create sustainable value. Visit www.EnLink.com to learn how EnLink connects energy to life.

Investor Relations: Brian Brungardt, Senior Director of Investor Relations, 214-721-9353, brian.brungardt@enlink.com
Media Relations: Megan Wright, Director of Corporate Communications, 214-721-9694, megan.wright@enlink.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/enlink-midstream-declares-quarterly-distribution-302275595.html

SOURCE EnLink Midstream, LLC

FAQ

What is the quarterly distribution amount for EnLink Midstream (ENLC) for Q3 2024?

EnLink Midstream (ENLC) declared a quarterly cash distribution of $0.1325 per common unit for the third quarter of 2024.

When will EnLink Midstream (ENLC) pay its Q3 2024 distribution?

EnLink Midstream (ENLC) will pay its third quarter 2024 cash distribution on November 14, 2024.

What is the record date for EnLink Midstream's (ENLC) Q3 2024 distribution?

The record date for EnLink Midstream's (ENLC) third quarter 2024 distribution is November 1, 2024.

Has EnLink Midstream (ENLC) changed its quarterly distribution amount in Q3 2024?

No, EnLink Midstream (ENLC) has maintained its quarterly distribution at $0.1325 per common unit, unchanged from the second quarter of 2024.