2024-03-06 08:00:00 ET
Summary
- Six energy infrastructure companies collectively spent $692 million in buybacks in 4Q23, bringing total buyback spend for the year to approximately $3.7 billion.
- Over 83% of constituents in the Alerian Midstream Energy Index (AMNA) by weighting currently have equity buyback authorizations in place.
- Buybacks have remained an important tool for returning cash to investors, complementing solid dividend growth.
Strong free cash flow generation from reduced capital spending has helped midstream/MLPs return excess cash to investors through growing dividends and equity buybacks in recent years....
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Q4 2023 Caps Solid Year For Midstream/MLP Buybacks