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Hess Midstream LP Announces Increased Quarterly Distribution
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of $0.5559 per Class A share for Q2 2022, marking a 1.2% increase from the previous quarter. This translates to a 5% annualized increase. The payment date is set for August 12, 2022, with a record date of August 4, 2022. Hess Midstream operates a diverse range of midstream assets focused on servicing Hess Corporation and third-party clients, primarily in the Bakken and Three Forks Shale regions of North Dakota.
Positive
Quarterly cash distribution increased by 1.2% from the previous quarter.
Annualized increase in distribution stands at 5%.
Established payment and record dates provide assurance to shareholders.
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 $0.5559 per Class A share for the quarter ended June 30, 2022. The distribution represents a 1.2% increase compared to the distribution on the Hess Midstream Class A shares for the first quarter of 2022, which equals a 5% increase on an annualized basis. The distribution will be payable on August 12, 2022 to shareholders of record as of the close of business on August 4, 2022.
About Hess Midstream
Hess Midstream LP is a fee-based, growth-oriented midstream company that owns, 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.
