Equitrans Midstream Announces Quarterly Dividend
October 22 2019 - 7:40AM
Business Wire
Provides Update on Mountain Valley Pipeline
Project
Equitrans Midstream Corporation (NYSE: ETRN) declared a
quarterly cash dividend of $0.45 per share for the third quarter of
2019. The dividend will be paid on November 22, 2019 to all ETRN
shareholders of record at the close of business on November 13,
2019.
ETRN expects to maintain a quarterly dividend of $0.45 per share
at least through the in-service date of the Mountain Valley
Pipeline (MVP). Upon completion of MVP, the dividend growth rate
will be reassessed.
Earlier today, Mountain Valley Pipeline, LLC issued a news
release providing a project update, including a revised budget of
$5.3 - $5.5 billion and targeted in-service date of late 2020. EQM
Midstream Partners, LP’s (NYSE: EQM) portion of the capital is
approximately $2.6 billion. The news release, which includes
additional detail, can be found on the investor page of ETRN's
website.
About Equitrans Midstream Corporation:
Equitrans Midstream Corporation (ETRN) has a premier asset
footprint in the Appalachian Basin and is one of the largest
natural gas gatherers in the United States. With a rich 135-year
history in the energy industry, ETRN was launched as a standalone
company in 2018 and, through its subsidiaries, has an operational
focus on gas gathering systems, transmission and storage systems,
and water services assets that support natural gas producers across
the Basin. ETRN is helping to meet America’s growing need for
clean-burning energy, while also providing a rewarding workplace
and enriching the communities where its employees live and work.
ETRN owns the non-economic general partner interest and a majority
ownership of the limited partner interest in EQM.
Visit Equitrans Midstream Corporation at
www.equitransmidstream.com
Cautionary Statement
Disclosures in this news release contain certain forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. Statements that do not relate strictly to
historical or current facts are forward-looking. Without limiting
the generality of the foregoing, forward-looking statements
contained in this news release specifically include expectations
regarding quarterly dividends for Equitrans Midstream Corporation
(ETRN) and future assessments regarding the dividend growth rate,
as well as the expected cost and targeted in-service date of the
MVP. These statements involve risks and uncertainties that could
cause actual results to differ materially from projected results.
Accordingly, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. ETRN
has based these forward-looking statements on current expectations
and assumptions about future events. While ETRN considers these
expectations and assumptions to be reasonable, they are inherently
subject to significant business, economic, competitive, regulatory
and other risks and uncertainties, many of which are difficult to
predict and beyond ETRN’s control. The risks and uncertainties that
may affect the operations, performance and results of ETRN’s
business and forward-looking statements include, but are not
limited to, those set forth under Item 1A, "Risk Factors" in ETRN's
Annual Report on Form 10-K for the year ended December 31, 2018
filed with the Securities and Exchange Commission (SEC), as may be
updated by Part II, Item 1A, "Risk Factors," of ETRN’s subsequent
Quarterly Reports on Form 10-Q filed or to be filed with the SEC.
Any forward-looking statement speaks only as of the date on which
such statement is made, and ETRN does not intend to correct or
update any forward-looking statement, unless required by securities
laws, whether as a result of new information, future events or
otherwise.
Source: Equitrans Midstream Corporation
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191022005260/en/
Analyst inquiries: Nate Tetlow – Vice President,
Corporate Development and Investor Relations
ntetlow@equitransmidstream.com Media inquiries: Natalie A.
Cox – Director, Corporate Communications
ncox@equitransmidstream.com
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