Targa Resources Corp. Declares Increase to Quarterly Common Dividend
21 January 2022 - 9:16AM
Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company")
announced its quarterly dividend on common shares and its quarterly
dividend on Series A preferred shares with respect to the fourth
quarter of 2021.
Targa announced today that its board of
directors has declared a quarterly cash dividend of $0.35 per
common share, or $1.40 per common share on an annualized basis, for
the fourth quarter of 2021, consistent with previously disclosed
expectations. This cash dividend will be paid February 15, 2022 on
all outstanding common shares to holders of record as of the close
of business on January 31, 2022. This dividend represents a 350
percent increase over the common dividend declared with respect to
the third quarter of 2021.
Targa also announced today that its board of
directors has declared a quarterly cash dividend of $23.75 per
Series A preferred share for the fourth quarter of 2021. This cash
dividend will be paid February 14, 2022 on all outstanding Series A
preferred shares to holders of record as of the close of business
on January 31, 2022.
The Company will report its fourth quarter 2021
financial results before the market opens for trading on Thursday,
February 24, 2022 and will host a live webcast over the internet at
11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss its
fourth quarter 2021 financial results.
Event InformationEvent: Targa Resources Corp.
Fourth Quarter 2021 Earnings Webcast and
PresentationDate: Thursday, February 24, 2022Time: 11:00
a.m. Eastern TimeWebcast: www.targaresources.com under
"Events and Presentations" or directly at
https://edge.media-server.com/mmc/p/r843intk
Replay Information A
webcast replay will be available at the link above approximately
two hours after the conclusion of the event. A quarterly earnings
supplement presentation and updated investor presentation will also
be available under Events and Presentations in the Investors
section of the Company’s website prior to the start of the
conference call, or directly at
https://www.targaresources.com/investors/events.
About Targa Resources Corp.
Targa Resources Corp. is a leading provider of
midstream services and is one of the largest independent midstream
infrastructure companies in North America. The Company owns,
operates, acquires, and develops a diversified portfolio of
complementary midstream infrastructure assets and its operations
are essential to the efficient, safe, and reliable delivery of
energy across the United States and increasingly to the world. The
Company’s assets connect natural gas and natural gas liquids (NGLs)
to domestic and international markets with growing demand for
cleaner fuels and feedstocks. The Company is primarily engaged in
the business of: gathering, compressing, treating, processing,
transporting, and purchasing and selling natural gas; transporting,
storing, fractionating, treating, and purchasing and selling NGLs
and NGL products, including services to LPG exporters; and
gathering, storing, terminaling, and purchasing and selling crude
oil.
Targa is a FORTUNE 500 company and is included
in the S&P 400.
For more information, please visit the Company’s
website at www.targaresources.com.
Forward-Looking Statements
Certain statements in this release are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical facts, included in this release that
address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future,
are forward-looking statements. These forward-looking statements
rely on a number of assumptions concerning future events and are
subject to a number of uncertainties, factors and risks, many of
which are outside the Company’s control, which could cause results
to differ materially from those expected by management of the
Company. Such risks and uncertainties include, but are not limited
to, weather, political, economic and market conditions, including a
decline in the price and market demand for natural gas, natural gas
liquids and crude oil, the impact of pandemics such as COVID-19,
actions by the Organization of the Petroleum Exporting Countries
(“OPEC”) and non-OPEC oil producing countries, the timing and
success of business development efforts, and other uncertainties.
These and other applicable uncertainties, factors and risks are
described more fully in the Company’s filings with the Securities
and Exchange Commission, including its most recent Annual Report on
Form 10-K, and any subsequently filed Quarterly Reports on Form
10-Q and Current Reports on Form 8-K. The Company does not
undertake an obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Contact the Company's investor relations
department by email atInvestorRelations@targaresources.com or by
phone at (713) 584-1133.
Sanjay LadVice President, Finance & Investor
Relations
Jennifer KnealeChief Financial Officer
Targa Resources (NYSE:TRGP)
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