AROC - Archrock Announces Quarterly Cash Dividend and Extends Share Repurchase Authorization | Benzinga
HOUSTON, April 26, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE:AROC) ("Archrock" or the "Company") today announced that its Board of Directors has declared a quarterly dividend of $0.165 per share of common stock, or $0.66 per share on an annualized basis. The first quarter 2024 dividend will be paid on May 14, 2024 to all stockholders of record on May 7, 2024.
The first quarter 2024 dividend per share amount is consistent with Archrock's fourth quarter 2023 dividend and represents a year-over-year increase of 10 percent.
The Board of Directors has also approved an extension of the Company's share repurchase program ("Share Repurchase Program") upon expiry of the current authorization on April 27, 2024, for an additional 24-month period. Through March 31, 2024, the Company had repurchased 833,346 common shares at an average price of $12.11 per share for an aggregate of $10.1 million. In connection with the extension, the Board of Directors replenished the amount of shares authorized for repurchase under the Share Repurchase Program, resulting in available capacity ...