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Kinetik Holdings Inc. (NYSE: KNTK) has announced a cash dividend of $0.75 per share, equating to $3.00 annually, for Q1 2023, to be paid on May 17, 2023. Shareholders on record as of May 5, 2023 will receive this dividend. This announcement aligns with prior communications from the Company.
The first-quarter results conference call is scheduled for May 4, 2023, at 8:00 AM CDT. The earnings release will be available post-market on May 3, 2023. Kinetik has a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends into additional shares.
Further details on the DRIP are outlined in the Company’s Form S-3 registration statement filed with the SEC.
Positive
Quarterly dividend declared at $0.75 per share, consistent with previous guidance.
Scheduled earnings call indicates proactive communication with investors.
Negative
None.
HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)--
Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) has declared a cash dividend of $0.75 per share ($3.00 on an annualized basis) for the first quarter ended March 31, 2023. The announced quarterly dividend is consistent with prior communications and will be paid on Wednesday, May 17, 2023 to shareholders of record as of market close on Friday, May 5, 2023.
Kinetik will host its first quarter 2023 results conference call on Thursday, May 4, 2023 at 8:00 am Central Daylight Time (9:00 am Eastern Daylight Time) to discuss first quarter results. The Company will issue its earnings release after market on Wednesday, May 3, 2023. The text of the earnings release, the accompanying presentation and link to the live webcast will be available on the Company’s website at www.kinetik.com. A replay of the conference call will also be available on the website following the call.
Kinetik previously implemented a Dividend Reinvestment Plan (the “DRIP” or the “Plan”) open to all shareholders. Participation is optional for public shareholders; meanwhile, Blackstone, I Squared, Apache and Management are reinvesting 100% of their applicable quarterly dividends under the DRIP. The DRIP provides Kinetik’s shareholders with the opportunity to have all or a portion of the cash dividends declared on their common shares automatically reinvested into additional common shares of the Company. Shareholders may elect to terminate participation in the Plan at any time.
A complete description of the Plan is included in the Company’s Form S-3 registration statement filed with the SEC on April 4, 2022 and is posted on the Company’s website at www.kinetik.com.
To participate, shareholders of record may register online by visiting the American Stock Transfer’s website at www.astfinancial.com or by contacting American Stock Transfer, the Plan Administrator, by telephone toll free from inside the United States at 1-(800)-278-4353 or outside of the United States at 1-(718)-921-8124. Shareholders may also contact the Plan Administrator in writing at American Stock Transfer & Trust Company, LLC, 6201 15th Avenue, Brooklyn, NY 11219. Please include a reference to Kinetik Holdings Inc. in all correspondence. Shareholders who own common stock through a broker should consult their broker regarding participation in the Plan.
About Kinetik Holdings Inc.
Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. Kinetik is headquartered in Houston and Midland, Texas. Kinetik provides comprehensive gathering, transportation, compression, processing and treating services for companies that produce natural gas, natural gas liquids, crude oil and water. Kinetik posts announcements, operational updates, investor information and press releases on its website, www.kinetik.com.
