Targa Resources Corp. Announces Quarterly Dividends and Timing of Fourth Quarter 2020 Earnings Webcast

Rhea-AI Summary

Targa Resources Corp. (NYSE: TRGP) declared a quarterly cash dividend of $0.10 per common share and $23.75 per Series A preferred share for Q4 2020. The common share dividend, amounting to $0.40 annually, will be payable on February 16, 2021, to shareholders on record as of February 1, 2021. Meanwhile, the preferred share dividend will be paid on February 12, 2021.

The company will announce its fourth quarter financial results on February 18, 2021, with a webcast available for investors to follow.

Positive

• Declared a quarterly cash dividend of $0.10 per common share, signaling financial stability.
• Declared a quarterly cash dividend of $23.75 per Series A preferred share, indicating strong returns for preferred shareholders.

Negative

• None.

HOUSTON, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP) announced its quarterly dividend on common shares and its quarterly dividend on Series A preferred shares with respect to the fourth quarter of 2020.

Targa announced today that its board of directors has declared a quarterly cash dividend of $0.10 per common share, or $0.40 per common share on an annualized basis, for the fourth quarter of 2020. This cash dividend will be paid February 16, 2021 on all outstanding common shares to holders of record as of the close of business on February 1, 2021.

Targa also announced today that its board of directors has declared a quarterly cash dividend of $23.75 per Series A preferred share for the fourth quarter of 2020. This cash dividend will be paid February 12, 2021 on all outstanding Series A preferred shares to holders of record as of the close of business on February 1, 2021.

Additionally, the Company will report its fourth quarter 2020 financial results before the market opens for trading on Thursday, February 18, 2021 and will host a live webcast over the internet at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss its 2020 fourth quarter financial results.

Event Information
Event: Targa Resources Corp. Fourth Quarter 2020 Earnings Webcast and Presentation
Date: Thursday, February 18, 2021
Time: 11:00 a.m. Eastern Time
Webcast: www.targaresources.com under "Events and Presentations" or directly at https://edge.media-server.com/mmc/p/ch8ddv3n

Replay Information 
A webcast replay will be available at the link above approximately two hours after the conclusion of the event. A quarterly earnings supplement presentation and updated investor presentation will also be available under Events and Presentations in the Investors section of the Company’s website prior to the start of the conference call, or directly at https://www.targaresources.com/investors/events.

About Targa Resources Corp.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary midstream infrastructure assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting and purchasing and selling natural gas; transporting, storing, fractionating, treating and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling and purchasing and selling crude oil.

For more information, please visit the Company’s website at www.targaresources.com.

Forward-Looking Statements

Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics such as COVID-19, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the timing and success of business development efforts, and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2019, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact the Company's investor relations department by email at InvestorRelations@targaresources.com or by phone at (713) 584-1133.

Sanjay Lad
Vice President, Finance & Investor Relations

Jennifer Kneale
Chief Financial Officer

FAQ

What is the common share dividend for Targa Resources in Q4 2020?

Targa Resources declared a common share dividend of $0.10 per share for the fourth quarter of 2020.

When will Targa pay its common share dividend?

The common share dividend will be paid on February 16, 2021, to holders of record as of February 1, 2021.

What is the dividend amount for Targa's Series A preferred shares?

Targa announced a quarterly cash dividend of $23.75 per Series A preferred share for Q4 2020.

When will Targa announce its Q4 2020 financial results?

Targa will report its fourth quarter 2020 financial results on February 18, 2021.

What time is Targa's earnings webcast for Q4 2020?

The earnings webcast will take place at 11:00 a.m. Eastern Time on February 18, 2021.