Archrock, Inc. announced on October 24, 2024, that its Board of Directors declared an increased quarterly dividend of $0.175 per share of common stock. This translates to an annualized dividend of $0.70 per share, reflecting the company's strong financial position.
The new dividend amount represents a 6% increase over the second quarter 2024 dividend level and a 13% increase compared to the third quarter 2023 dividend. This marks the second dividend increase for Archrock in 2024 and the fourth in the last two years.
The dividend is scheduled to be paid on November 13, 2024, to all stockholders of record as of November 6, 2024. Management cited enduring demand growth for natural gas and the company's transformed platform, along with the accretive TOPS acquisition, as drivers for this increase in shareholder returns.
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