The Kansas City based midstream company that transports oil from Wyoming and Colorado to the Cushing terminal in Oklahoma is announcing a dividend.
Tallgrass Energy, LP announced the quarter cash dividend will total 53 cents a share for the first quarter of 2019. It will be paid to shareholders of record as of the close of business on Tuesday, April 30, 2019.
The dividend amounts to $2.12 a share on an annualized basis and represents a 1.9 percent sequential increase from the fourth quarter of 2018. It is also 8.7 percent more from the first quarter of 2018 when the dividend was 49 cents a share.
It is also Tallgrass Energy’s 15th consecutive dividend increase since its initial public offering in May 2015.
Tallgrass plans to report first quarter 2019 financial results on Tuesday, May 7, 2019, and hold a conference call at 3:30 p.m. Central Time that same day.
The company reported 4th quarter 2018 adjusted earnings of nearly $1 billion, leading CEO David G. Dehaemers Jr. to predict the company was “poised for another record-breaking year in 2019.”