The fourth quarter 2023 dividend per share amount represents an increase of 6.5 percent over the
“Our robust results continue to demonstrate the power of our transformed platform and strong operational execution. The decision to increase our dividend reflects our confidence in the outlook for compression as well as Archrock’s industry-leading financial flexibility and capital allocation capabilities,” said
“Our increased dividend is supported by a consistent and prudent expected dividend coverage ratio of more than 2.0 times and leverage ratio of between 3.0 and 3.5 times by year end 2024.
“We remain committed to improving financial returns and returning capital to our shareholders and look forward to updating you on our 2024 outlook during our fourth quarter 2023 earnings call in February,” concluded Childers.
About
Archrock is an energy infrastructure company with a primary focus on midstream natural gas compression and a commitment to helping its customers produce, compress and transport natural gas in a safe and environmentally responsible way. Headquartered in Houston,
Forward-Looking Statements
This press release contains forward-looking statements, which include statements about Archrock’s future financial performance and dividends. These statements are not guarantees of future performance or actions. Forward-looking statements rely on a number of assumptions concerning future events and are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made.
For information, contact:
Vice President, Investor Relations
(281) 836-8360
investor.relations@archrock.com
Source:
2024 GlobeNewswire, Inc., source