Kinetik Announces Second Quarter Dividend, Financial Results Timing, and the Full Redemption of its Series A Preferred
July 20 2022 - 4:10PM
Kinetik Holdings Inc. (NASDAQ: KNTK) (“
Kinetik” or
the “
Company”) today declared a cash dividend of
$0.75 per share ($3.00 on an annualized basis) for the second
quarter ended June 30, 2022. The announced quarterly dividend is
consistent with prior communications and will be paid on Wednesday,
August 17, 2022 to shareholders of record as of close on Friday,
August 5, 2022.
Kinetik will host its second quarter 2022 results conference
call Wednesday, August 10, 2022 at 8:00 am Central Daylight Time
(9:00 am Eastern Daylight Time) to discuss second quarter results.
The Company will issue its earnings release and updated 2022
Guidance after market on Tuesday, August 9, 2022. 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 also completed the previously announced accelerated
redemption of its Series A Preferred using cash on hand and
drawings under its revolving credit facility. The accelerated
redemption further enhances the Company’s free cash flow and
completes its capital structure simplification. Additional details
will be included in the Company’s upcoming second quarter earnings
release.
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 almost 100% of their 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.
Contacts
Kinetik Investors(713) 487-4832Maddie WagnerWebsite:
www.kinetik.com
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