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Antero Midstream Corp. (AM) for High Yield - July 12

PostPosted: Fri Jul 12, 2019 11:30 am
by dan_s
Antero Midstream Corporation (AM) recently announced an approval from the board of directors to hike its quarterly dividend payout.

AM is a C-Corp.

The second-quarter 2019 dividend of 30.75 cents per common stock, payable to shareholders of record, represents a sequential raise of 2% and a 146% surge as compared to Antero Midstream GP LP's year-ago distribution figure. Moreover, the latest dividend reflects a 40% rise from Antero Midstream Partners LP's year-ago distribution level.

The divided amount translates to an annualized basis of $1.23 per unit (~10% annual yield). The increased dividend is expected to be paid on Aug 7, 2019 to shareholders of record as of Jul 26, 2019. It is important to note that ever since Antero Midstream Partners went public in November 2014, there has been 18 successive quarters of dividend or distribution increases so far.

Zacks Equity Research: "This consistent raise in dividend underscores Antero Midstream Corp.’s strong and stable operations, backed by long-term midstream energy services contracts with Antero Resources Corporation (AR). Based in Denver, CO, Antero Midstream Corp. has ownership stakes in midstream infrastructures that comprise assets related to processing, gathering, compression and fractionation activities."