Aris Water Solutions, Inc. Initiates Quarterly Cash Dividend of $0.07 per Share
06 Dezember 2021 - 10:54PM
Business Wire
Aris Water Solutions, Inc. (NYSE: ARIS) (“Aris” or the
“Company”) today announced that its Board of Directors declared a
dividend on its Class A common stock for the fourth quarter of 2021
of $0.07 per share. In conjunction with the dividend payment, a
distribution of $0.07 per unit will be paid to unit holders of
Solaris Midstream Holdings, LLC. The dividend will be paid on
January 27, 2022 to holders of record of the Company’s Class A
common stock as of the close of business on January 6, 2022. The
dividend equates to $0.09 per share for the fourth quarter of 2021
pro-rated for the period following completion of the Company’s
initial public offering. The distribution to unit holders of
Solaris Midstream Holdings, LLC will be subject to the same payment
and record dates.
“Instituting our initial quarterly dividend is an important
milestone for Aris,” said Amanda Brock, President and CEO of Aris.
“The dividend initiation reflects the Board and Management’s
confidence that we can return cash to our shareholders while also
continuing to invest in high-return growth projects and manage our
balance sheet. Our existing infrastructure, scale, and customer
base underpins our free cash flow generation and provides us the
flexibility for a balanced capital allocation framework.”
About Aris Water Solutions, Inc.
Aris Water Solutions, Inc. is a leading, growth-oriented
environmental infrastructure and solutions company that directly
helps its customers reduce their water and carbon footprints. Aris
delivers full-cycle water handling and recycling solutions that
increase the sustainability of energy company operations. Its
integrated pipelines and related infrastructure create long-term
value by delivering high-capacity, comprehensive produced water
management, recycling and supply solutions to operators in the core
areas of the Permian Basin. For more information about the Company,
visit www.ariswater.com.
Forward-Looking Statements
This press release contains 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. Examples of forward-looking statements include, but are
not limited to, those regarding payments of dividends, and our
implied cash flow or liquidity. In some cases, you can identify
forward-looking statements by terminology such as “estimate,”
“expect,” “intend,” “plan,” “believe,” “forecast,” “may,” “could”
and variations of such words or similar expressions. The payment of
any future dividends will be at the discretion of our board of
directors. Our board of directors may elect to declare cash
dividends depending on, among other things, our financial
condition, results of operations, projections, liquidity, earnings,
legal requirements, and restrictions in our debt. We have not
adopted a written dividend policy. The estimated total amount of
the dividend and distribution with respect to the fourth quarter of
2021 is estimated to be $3.8 million, but future dividend amounts,
if any, may be more or less than this amount. Forward-looking
statements are based on our current expectations and assumptions
regarding our business, the economy and other future conditions.
Because forward-looking statements relate to the future, by their
nature, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict. As a
result, our actual results may differ materially from those
contemplated by the forward-looking statements. Factors that could
cause our actual results to differ materially from the results
contemplated by such forward-looking statements include but are not
limited to the risk factors discussed or referenced in our filings
made from time to time with the SEC. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date hereof. Factors or events that could cause our
actual results to differ may emerge from time to time, and it is
not possible for us to predict all of them. We undertake no
obligation to update or revise any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211206005830/en/
David Tuerff Senior Vice President, Finance & Investor
Relations 832-803-0367 IR@ariswater.com
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