HOUSTON, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock” or the “Company”) today announced that its Board of Directors has declared an increased quarterly dividend of $0.19 per share of common stock, or $0.76 per share on an annualized basis. The fourth quarter 2024 dividend will be paid on February 19, 2025 to all stockholders of record on February 12, 2025.
The fourth quarter 2024 dividend per share amount represents an increase of 9 percent over the Archrock third quarter 2024 dividend level and an increase of 15 percent over the Archrock fourth quarter 2023 dividend level.
“We are implementing the fifth increase in Archrock’s quarterly cash dividend since January of 2023, reflecting our high utilization and our transformed platform, which are delivering strong and consistent results,” said Brad Childers, Archrock’s President and Chief Executive Officer.
“We remain committed to increasing cash returns to shareholders, while maintaining prudent dividend coverage and leverage ratios, as well as investing in high-return assets to support our customers and grow our natural gas intensive compression business given the strongly robust market we continue to experience. We look forward to updating you on our results and providing 2025 guidance on our earnings call in February,” concluded Childers.
About Archrock
Archrock is an energy infrastructure company with a primary focus on midstream natural gas compression and a commitment to helping its customers produce, compress and transport natural gas in a safe and environmentally responsible way. Headquartered in Houston, Texas, Archrock is a premier provider of natural gas compression services to customers in the energy industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment. For more information on how the Company embodies its purpose, WE POWER A CLEANER AMERICATM, visit www.archrock.com.
Forward-Looking Statements
This press release contains forward-looking statements, which include statements about Archrock’s future financial performance and 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, 2023, Archrock’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 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:
Megan Repine
Vice President, Investor Relations
(281) 836-8360
investor.relations@archrock.com...
Read the full news release here
