Kinetik Holdings Inc. Announced approval by the board of directors to make a two-for-one split of the company’s common stock. Said shares will remain in the form of dividends (“Stock Split”).
The company expects that the share split will increase liquidity within Kinetik’s share trading. This will make the shares more accessible to employees and investors.
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Thanks to an additional share given for each Class A ordinary share in circulation, this division will be possible. An additional Class C share will also be given for each Class C common share outstanding. This Wednesday, June 8, 2022, the additional shares of capital stock will be issued to holders who were registered before May 31, 2022.
Trading in Class A Common Stock shares will begin on a basis set by such stock split on Thursday, June 9, 2022.
Once the stock split is effective, Kinetik expects to have a total of approximately 135 million common shares outstanding. Beginning in the second quarter of 2022, the quarterly dividend on the company’s common stock will be $0.75 per share.
Learn more about Kinetik and how it works
Kinetik, an intermediate C corporation fully integrated and operating from the Delaware Basin. The base of this company is located in Houston and Midland, Texas.
It dedicates to providing comprehensive services. Its operation encompasses the collection, transportation, compression, processing, and treatment for companies that produce natural gas, natural gas liquids, crude oil, and water. They also post announcements, operational updates, investor information, and press releases on their website.
This will be an exciting opportunity for investors and employees who want to purchase some shares at a very reasonable price. The company will wait to see the end result of its strategy and hope for good results.