Equitrans Midstream Announces Quarterly Dividends

Rhea-AI Summary

Equitrans Midstream Corporation (ETRN) has announced quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for the fourth quarter of 2023. The dividends will be paid on February 14, 2024, to all applicable ETRN shareholders of record at the close of business on February 6, 2024.

Insights

Financial Analyst

The declaration of quarterly cash dividends by Equitrans Midstream Corporation is a tangible reflection of the company's financial health and its commitment to returning value to shareholders. The dividend of $0.15 per common share indicates a continued profit distribution strategy, which is crucial for income-focused investors. Analyzing the dividend yield and comparing it with the industry average can provide insights into the company's competitiveness in terms of shareholder returns. Additionally, the stability and growth potential of these dividends are key factors in assessing the company's long-term investment appeal.

Furthermore, the specified dividend for Series A Perpetual Convertible Preferred Stock at $0.4873 per share suggests a prioritization of these investors, possibly due to the preferential treatment they receive in dividend payments and the potential for conversion into common stock. This could signal confidence in the company's future performance, as convertible instruments are often used to raise capital without immediately diluting shareholder value.

Market Research Analyst

The payment date set for February 14, 2024, with a record date of February 6, 2024, falls within the standard timeline for dividend distribution, which does not raise any immediate concerns regarding the company's liquidity or cash flow management. However, it is essential to monitor the company's dividend payout ratio, which measures the proportion of earnings paid out as dividends to shareholders. A sustainable payout ratio indicates that the company is not overextending itself and can maintain or grow its dividend payments in the future.

It is also worth noting the impact of such announcements on investor sentiment. Dividend declarations can often lead to short-term stock price movements as market participants react to the news. The consistency and potential growth of dividend payments can attract a stable investor base, which may contribute to reduced stock price volatility.

CANONSBURG, Pa.--(BUSINESS WIRE)-- Equitrans Midstream Corporation (NYSE: ETRN), today, declared quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for the fourth quarter 2023. The dividends will be paid on February 14, 2024, to all applicable ETRN shareholders of record at the close of business on February 6, 2024.

About Equitrans Midstream Corporation:

Equitrans Midstream Corporation has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located infrastructure assets in the Marcellus and Utica regions, Equitrans has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 140-year history in the energy industry, Equitrans was launched as a standalone company in 2018 with a vision to be the premier midstream services provider in North America. While working to meet America's growing need for clean-burning energy, Equitrans is proud of its environmental, social, and governance (ESG) practices, striving every day to preserve and protect the environment, provide an engaging workplace for its employees, support and enrich its local communities, and to deliver sustained value for customers and shareholders.

Visit www.equitransmidstream.com; and to learn more about our ESG practices visit Equitrans Sustainability Reporting.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240123030538/en/

Analyst inquiries:

Anthony DeFabio – Treasurer and Director, Investor Relations

412.518.7139

adefabio@equitransmidstream.com

Media inquiries:

Natalie A. Cox – Communications and Corporate Affairs

ncox@equitransmidstream.com

Source: Equitrans Midstream Corporation

FAQ

What is the dividend amount declared by Equitrans Midstream Corporation (ETRN) for the fourth quarter of 2023?

The dividend declared is $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock.

When will the dividends be paid to ETRN shareholders?

The dividends will be paid on February 14, 2024.

Who will receive the dividends from Equitrans Midstream Corporation (ETRN)?

The dividends will be paid to all applicable ETRN shareholders of record at the close of business on February 6, 2024.