Hess Midstream LP Announces Increased Quarterly Distribution

Rhea-AI Summary

Hess Midstream LP (NYSE: HESM) declared a quarterly cash distribution of $0.4471 per Class A share for Q4 2020. This reflects a 1.2% increase from the previous quarter and a 5% annualized growth. The distribution is set for payment on February 12, 2021, to shareholders on record by February 4, 2021. Hess Midstream operates fee-based midstream services in the Bakken and Three Forks Shale regions in North Dakota, focusing on oil, gas, and produced water handling assets.

Positive

• Quarterly cash distribution increased by 1.2% compared to Q3 2020.
• Annualized growth of 5% in cash distribution.

Negative

• None.

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.4471 per Class A share for the quarter ended December 31, 2020. The distribution represents a 1.2% increase compared to the distribution on the Hess Midstream Class A shares for the third quarter of 2020, which equals a 5% increase on an annualized basis. The distribution will be payable on February 12, 2021 to shareholders of record as of the close of business on February 4, 2021.

About Hess Midstream

Hess Midstream LP is a fee-based, growth-oriented midstream company that operates, develops and acquires a diverse set of midstream assets to provide services to Hess Corporation and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210125005716/en/