Hess Midstream LP Announces Increased Quarterly Distribution

Rhea-AI Summary

Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of $0.5167 per Class A share for Q4 2021, reflecting a 1.2% increase from Q3 2021 and a 5% annualized increase. The distribution will be paid on February 14, 2022, to shareholders of record as of February 3, 2022. Hess Midstream operates midstream assets primarily in the Bakken and Three Forks Shale plays in North Dakota, offering services to Hess Corporation and third-party customers.

Positive

• Quarterly cash distribution increased by 1.2% compared to Q3 2021.
• 5% annualized growth in cash distribution signals financial stability.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.5167 per Class A share for the quarter ended December 31, 2021. The distribution represents a 1.2% increase compared to the distribution on the Hess Midstream Class A shares for the third quarter of 2021, which equals a 5% increase on an annualized basis. The distribution will be payable on February 14, 2022 to shareholders of record as of the close of business on February 3, 2022.

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/20220124005541/en/

Investor Contact:

Jennifer Gordon

(212) 536-8244

Media Contact:

Robert Young

(346) 319 8783

Source: Hess Midstream LP

FAQ

What is the cash distribution announced by Hess Midstream for Q4 2021?

Hess Midstream announced a cash distribution of $0.5167 per Class A share for Q4 2021.

When will the cash distribution be payable to Hess Midstream shareholders?

The cash distribution will be payable on February 14, 2022.

What was the increase in cash distribution compared to Q3 2021?

The distribution increased by 1.2% compared to Q3 2021.

What is the significance of the 5% annualized increase in cash distribution for Hess Midstream?

The 5% annualized increase indicates a commitment to returning value to shareholders.

When is the record date for Hess Midstream's cash distribution?

The record date for the cash distribution is February 3, 2022.