DENVER, April 11, 2019 /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream") today announced its first 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 $0.3025 per share ($1.21 per share annualized) for the first quarter of 2019. The dividend represents a 180% increase as compared to Antero Midstream GP LP's ("AMGP") first quarter 2018 distribution and an 84% increase sequentially. The dividend will be payable on May 8, 2019 to stockholders of record as of April 26, 2019.
The dividend also represents a 47% increase compared to Antero Midstream Partners LP's first quarter 2018 distribution and a 22% 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 seventeenth consecutive quarterly dividend or distribution increase since Antero Midstream Partners LP's initial public offering in November 2014.
Antero Midstream Corporation is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in West Virginia and Ohio, as well as integrated water assets that primarily service Antero Resources Corporation's properties. The Company's website is located at www.anteromidstream.com.
SOURCE Antero Midstream