Archrock Increases Quarterly Cash Dividend
July 24 2019 - 6:30PM
Archrock, Inc. (NYSE: AROC) (“Archrock”) today announced that its
Board of Directors has declared a quarterly dividend of $0.145 per
share of common stock, or $0.58 per share on an annualized basis.
The second quarter 2019 dividend represents an increase of 10
percent over the first quarter 2019 dividend of $0.132 per share.
The dividend will be paid on August 14, 2019 to all stockholders of
record on August 7, 2019.
“The increase in our quarterly dividend is
consistent with our stated financial strategy of delivering between
10% and 15% annual dividend growth through 2020,” said Brad
Childers, Archrock’s President and Chief Executive Officer. “We
remain confident in our ability to maintain dividend coverage of at
least 2.0 times, while also reducing our leverage to less than 4.0
times in 2020.”
About Archrock
Archrock is an energy infrastructure company
with a pure-play focus on midstream natural gas compression.
Archrock is the leading provider of natural gas compression
services to customers in the oil and natural gas industry
throughout the U.S. and a leading supplier of aftermarket services
to customers that own compression equipment in the U.S. Archrock is
headquartered in Houston, Texas, with approximately 1,700
employees. For more information, please visit www.archrock.com.
Forward-Looking Statements
This press release contains forward-looking
statements, which includes statements about Archrock’s 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.
Archrock expressly disclaims any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. A further list and description of
risks, uncertainties and other matters can be found in Archrock’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2018, and as set forth from time to time in Archrock’s filings with
the Securities and Exchange Commission. These filings are
available online at www.sec.gov and www.archrock.com.
For information, contact:
Paul BurkhartTreasurer & VP of Investor
Relations281-836-8688investor.relations@archrock.com
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