Hess Midstream LP Announces Increased Quarterly Distribution

Rhea-AI Summary

Hess Midstream LP (NYSE: HESM) has declared a quarterly cash distribution of $0.5627 per Class A share for the quarter ending September 30, 2022. This marks a 1.2% increase from the previous quarter, translating to a 5% annualized growth. The distribution will be payable on November 14, 2022, to shareholders on record as of November 3, 2022. Hess Midstream is a growth-oriented midstream company with assets primarily in the Bakken and Three Forks Shale plays in North Dakota.

Positive

• Quarterly cash distribution increased by 1.2% compared to the previous quarter.
• Annualized growth rate of 5% reflects 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 $0.5627 per Class A share for the quarter ended September 30, 2022. The distribution represents a 1.2% increase compared to the distribution on the Hess Midstream Class A shares for the second quarter of 2022, which equals a 5% increase on an annualized basis. The distribution will be payable on November 14, 2022 to shareholders of record as of the close of business on November 3, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221024005657/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 announced by Hess Midstream (HESM)?

Hess Midstream announced a quarterly cash distribution of $0.5627 per Class A share.

When will the cash distribution for HESM be payable?

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

What is the increase in cash distribution compared to the previous quarter for HESM?

The cash distribution represents a 1.2% increase compared to the previous quarter.

What date is the record for shareholders to receive the distribution for HESM?

Shareholders must be on record by the close of business on November 3, 2022.