Archrock Increases Quarterly Cash Dividend
Source: Nasdaq GlobeNewswire / 26 Jul 2018 06:30:20 America/New_York
HOUSTON, July 26, 2018 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE:AROC) (“Archrock”) today announced that its Board of Directors has declared a dividend of $0.132 per share of common stock, or $0.528 per share on an annualized basis. The dividend will be paid on August 14, 2018 to all stockholders of record on August 7, 2018.
The second quarter 2018 dividend represents an increase of 10 percent over the first quarter 2018 dividend of $0.12 per share.
“We are pleased to resume dividend growth, and doing so a quarter ahead of the guidance we gave when we announced the merger of Archrock and Archrock Partners,” said Brad Childers, Archrock’s President and Chief Executive Officer. “Today’s announcement reflects an attractive rate of dividend growth and demonstrates our ongoing commitment to capital return. We remain focused on profitably growing our business and look forward to delivering additional value to our shareholders over the near and long term.”
Archrock is a pure play U.S. natural gas contract compression services business and a leading supplier of aftermarket services to customers that own compression equipment in the United States. Archrock is headquartered in Houston, Texas, operating in the major oil and gas producing regions in the United States, with approximately 1,700 employees. For more information, visit www.archrock.com.
This press release contains forward-looking statements, which may include 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, 2017, 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 Burkhart, Vice President Finance