Hess Midstream LP Announces Increased Quarterly Distribution

Rhea-AI Summary

Hess Midstream LP (NYSE: HESM) has declared a quarterly cash distribution of $0.5696 per Class A share for the quarter ending December 31, 2022. This marks a 1.2% increase from the previous quarter's distribution, representing a 5% annualized increase. The payment date for this distribution is set for February 13, 2023, to shareholders recorded as of February 2, 2023. Hess Midstream is a growth-oriented midstream company primarily engaged in owning and operating assets that provide services in the Bakken and Three Forks Shale plays in North Dakota.

Positive

• Declared a quarterly cash distribution of $0.5696 per Class A share.
• Represents a 1.2% increase compared to the last quarter.
• Achieves a 5% annualized growth in distribution.

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 $0.5696 per Class A share for the quarter ended December 31, 2022. The distribution represents a 1.2% increase compared to the distribution on the Hess Midstream Class A shares for the third quarter of 2022, which equals a 5% increase on an annualized basis. The distribution will be payable on February 13, 2023 to shareholders of record as of the close of business on February 2, 2023.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005592/en/

Investor Contact:

Jennifer Gordon

(212) 536-8244

Media Contact:

Robert Young

(346) 319 8783

Source: Hess Midstream LP

FAQ

What is the quarterly cash distribution for Hess Midstream (HESM)?

Hess Midstream has declared a quarterly cash distribution of $0.5696 per Class A share.

When will Hess Midstream pay its cash distribution?

The distribution will be paid on February 13, 2023.

What increase does the latest distribution represent for HESM?

The latest distribution represents a 1.2% increase from the previous quarter.

What is the record date for the cash distribution from Hess Midstream?

The record date for the distribution is February 2, 2023.