Hess Midstream LP Announces Increased Quarterly Distribution

Rhea-AI Summary

Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of $0.4417 per Class A share for Q3 2020, reflecting a 1.2% increase from the previous quarter and a 5% annualized increase. The distribution will be paid on November 13, 2020, to shareholders on record as of November 5, 2020. Hess Midstream focuses on growth through its fee-based midstream operations, primarily within the Bakken and Three Forks Shale plays in North Dakota.

Positive

• Quarterly cash distribution increased by 1.2% from Q2 2020.
• Annualized growth of the distribution stands at 5%.
• Focus on growth-oriented, fee-based midstream services.

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 $0.4417 per Class A share for the quarter ended September 30, 2020. The distribution represents a 1.2% increase compared to the distribution on the Hess Midstream Class A shares for the second quarter of 2020, which equals a 5% increase on an annualized basis. The distribution will be payable on November 13, 2020 to shareholders of record as of the close of business on November 5, 2020.

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.