Targa Resources Corp. Declares Increase to Quarterly Common Dividend and Announces Timing of First Quarter 2025 Earnings Webcast

Rhea-AI Summary

Targa Resources Corp (NYSE: TRGP) has announced a significant increase in its quarterly cash dividend to $1.00 per common share ($4.00 annualized) for the first quarter of 2025. This represents a 33% increase compared to the first quarter of 2024 dividend.

The dividend will be paid on May 15, 2025, to shareholders of record as of April 30, 2025. The company will release its Q1 2025 financial results before market opening on May 1, 2025, followed by a live webcast at 11:00 a.m. Eastern Time to discuss the quarterly performance.

Positive

• 33% increase in quarterly dividend to $1.00 per share ($4.00 annualized)
• Dividend increase aligned with previously disclosed expectations

Negative

• None.

HOUSTON, April 10, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that its board of directors has declared an increase to its quarterly cash dividend to $1.00 per common share, or $4.00 per common share on an annualized basis, for the first quarter of 2025, consistent with previously disclosed expectations. This dividend represents a 33 percent increase over the common dividend declared with respect to the first quarter of 2024. This cash dividend will be paid May 15, 2025 on all outstanding common shares to holders of record as of the close of business on April 30, 2025.

The Company will report its first quarter 2025 financial results before the market opens for trading on Thursday, May 1, 2025, 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 2025 first quarter financial results.

Event Information
Event: Targa Resources Corp. First Quarter 2025 Earnings Webcast and Presentation
Date: Thursday, May 1, 2025
Time: 11:00 a.m. Eastern Time
Webcast: https://www.targaresources.com/investors/events or directly at https://edge.media-server.com/mmc/p/waa5bt3q

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 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 infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. 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.

Targa is a FORTUNE 500 company and is included in the S&P 500.

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, including statements regarding our projected financial performance, capital spending and payment of future dividends. 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, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, 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 timing and success of our completion of capital projects and business development efforts, the expected growth of volumes on our systems, the impact of significant public health crises, commodity price volatility due to ongoing or new global conflicts, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, 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 most recent Annual Report on Form 10-K, 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.

Targa Investor Relations
InvestorRelations@targaresources.com
(713) 584-1133

FAQ

What is the new quarterly dividend amount for Targa Resources (TRGP) in Q1 2025?

Targa Resources announced a quarterly dividend of $1.00 per common share, or $4.00 per share annualized, for Q1 2025.

How much did TRGP increase its dividend compared to Q1 2024?

TRGP increased its quarterly dividend by 33% compared to the first quarter of 2024.

When will Targa Resources pay its Q1 2025 dividend?

The Q1 2025 dividend will be paid on May 15, 2025, to shareholders of record as of April 30, 2025.

When will TRGP release its Q1 2025 earnings report?

Targa Resources will release its Q1 2025 earnings report before market opens on Thursday, May 1, 2025.