Hess Midstream LP Announces Increased Quarterly Distribution

Rhea-AI Summary

Hess Midstream LP (NYSE: HESM) declared a quarterly cash distribution of $0.4526 per Class A share for Q1 2021. This reflects a 1.2% increase from the previous quarter, translating to a 5% annual growth. The distribution will be payable on May 13, 2021 to shareholders on record as of May 3, 2021. Hess Midstream focuses on providing fee-based services through its diverse midstream assets in the Bakken and Three Forks Shale plays in North Dakota.

Positive

• Quarterly cash distribution increased by 1.2% compared to Q4 2020.
• Annualized growth of cash distribution is 5%.

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 $0.4526 per Class A share for the quarter ended March 31, 2021. The distribution represents a 1.2% increase compared to the distribution on the Hess Midstream Class A shares for the fourth quarter of 2020, which equals a 5% increase on an annualized basis. The distribution will be payable on May 13, 2021 to shareholders of record as of the close of business on May 3, 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/20210423005399/en/

FAQ

What is the latest cash distribution declared by Hess Midstream (HESM)?

Hess Midstream declared a quarterly cash distribution of $0.4526 per Class A share for Q1 2021.

When will the cash distribution for Hess Midstream be paid?

The cash distribution will be payable on May 13, 2021.

What was the percentage increase in cash distribution compared to the previous quarter for Hess Midstream?

There was a 1.2% increase in cash distribution compared to the fourth quarter of 2020.

What is the annual growth percentage for Hess Midstream's cash distribution?

The annual growth percentage of the cash distribution is 5%.

What assets does Hess Midstream operate in North Dakota?

Hess Midstream operates oil, gas, and produced water handling assets primarily in the Bakken and Three Forks Shale plays.