Antero Midstream (AM) Update - August 15
Posted: Thu Aug 15, 2019 9:40 am
We will be sending out an updated profile on AM on Friday, August 16. I want to stress that this midstream C-Corp. has STRONG DCF coverage growth locked in and that they have publicly said that they will be increasing dividends year-after-year. 99% of their revenues come from Antero Resources (AR) which has solid growth locked in and AM will be expanding its gathering, compression and water hauling & treatment services to other operators in the Marcellus/Utica play. At the current unit price and the increased dividend below, annual yield on AM is over 17%.
Dividend Update
On July 10, 2019 Antero Midstream Corporation announced its second dividend since it converted to a corporation and closed the acquisition of Antero Midstream Partners LP.
The Board of Directors of Antero Midstream declared a cash dividend of $0.3075 per share ($1.23 per share annualized) for the second quarter of 2019. The dividend also represents a 40% increase compared to Antero Midstream Partners LP's second quarter 2018 distribution and a 2% increase sequentially, each adjusted for the 1.8926 exchange ratio for unitholders who elected to receive stock in the recently closed simplification transaction. This represents the eighteenth consecutive quarterly dividend or distribution increase since Antero Midstream Partners LP's initial public offering in November 2014.
“Total dividends for 2019 are expected to be $1.24/share, increasing to $1.30/share in 2020. This is in line with AM’s stated goal of increasing dividends at an annual rate of “high single digits”.
Dividend Update
On July 10, 2019 Antero Midstream Corporation announced its second dividend since it converted to a corporation and closed the acquisition of Antero Midstream Partners LP.
The Board of Directors of Antero Midstream declared a cash dividend of $0.3075 per share ($1.23 per share annualized) for the second quarter of 2019. The dividend also represents a 40% increase compared to Antero Midstream Partners LP's second quarter 2018 distribution and a 2% increase sequentially, each adjusted for the 1.8926 exchange ratio for unitholders who elected to receive stock in the recently closed simplification transaction. This represents the eighteenth consecutive quarterly dividend or distribution increase since Antero Midstream Partners LP's initial public offering in November 2014.
“Total dividends for 2019 are expected to be $1.24/share, increasing to $1.30/share in 2020. This is in line with AM’s stated goal of increasing dividends at an annual rate of “high single digits”.