TRP:CC - Q1 2022 Midstream Dividends And The Outlook For Variable Payouts

• Midstream dividend trends remained positive for 1Q22 with no cuts across Alerian’s midstream indexes for the third straight quarter and several examples of growth, including a handful of names raising their quarterly payouts by double-digit percentages.
• On a year-over-year basis, companies that have grown their payouts represent over 80% of Alerian’s MLP and broad midstream benchmarks by weighting.
• A few midstream names have deployed variable or special dividends, but generally, variable or special dividends may not gain as much traction for midstream compared to upstream.

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