Kinetik Holdings Inc. announced that its Board of Directors has declared an increase to its quarterly cash dividend. The new dividend is set at $0.78 per share, or $3.12 per share on an annualized basis, for the third quarter ended September 30, 2024.
This announced quarterly dividend represents a 4% increase compared to the prior quarterly dividend. The dividend will be paid on Thursday, November 7, 2024, to shareholders of record as of market close on Monday, October 28, 2024.
Jamie Welch, Kinetik’s President & Chief Executive Officer, stated that the strategic transactions closed earlier in the year and business outperformance accelerated the achievement of the company's 3.5x leverage target. This increased confidence in the company’s outlook supported the decision to increase the dividend and accelerate returns to shareholders.
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