TULSA, Okla., May 01, 2018 (GLOBE NEWSWIRE) -- SemGroup® Corporation (NYSE:SEMG) today announced that its Board of Directors has declared a quarterly cash dividend to common shareholders. A dividend in the amount of $0.4725 per share, or $1.89 per share annualized, will be paid on May 25, 2018 to all common shareholders of record on May 16, 2018.
The Board of Directors also declared a dividend to holders of its 7% Series A Cumulative Perpetual Convertible Preferred Stock, which were outstanding for a portion of the first quarter 2018. The company elected, pursuant to the terms of the convertible preferred shares, to have the aggregate amount of $4.8 million that would have been payable in cash as a dividend added to the liquidation preference of such shares as a payment in kind. The record date for the payment in kind on the shares of convertible preferred stock is May 16, 2018 and the payment date is May 25, 2018.
As previously announced, SemGroup plans to release first quarter 2018 results after the market closes on Tuesday, May 8, 2018. A conference call for investors will be held at 11 a.m. Eastern on Wednesday, May 9, 2018 to discuss SemGroup’s first quarter results. A presentation of the results will be posted prior to the conference call on SemGroup’s Investor Relations website at www.semgroupcorp.com.
| What: | SemGroup Corporation first quarter 2018 earnings conference call |
| When: | 11 a.m. Eastern, Wednesday, May 9, 2018 |
| Where: | 1) Phone conference call |
| • U.S. callers – 1-855-239-1101 | |
| • International callers – 1-412-542-4117 | |
| 2) Register for the live webcast here. |
If you are unavailable to participate in the conference call or webcast, a replay will be available on the company’s website following the call.
About SemGroup
Based in Tulsa, Okla., SemGroup® Corporation (NYSE:SEMG) is a publicly traded midstream service company providing the energy industry the means to move products from the wellhead to the wholesale marketplace. SemGroup provides diversified services for end-users and consumers of crude oil, natural gas, natural gas liquids, refined products, residual fuel oil and asphalt. Services include purchasing, selling, processing, transporting, terminalling and storing energy.
SemGroup uses its Investor Relations website and social media outlets as channels of distribution of material company information. Such information is routinely posted and accessible on our Investor Relations website at www.semgroupcorp.com, our Twitter account and LinkedIn account.
Forward-Looking Statements
Certain matters contained in this Press Release include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical fact, included in this Press Release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include the risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this Press Release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
Investor Relations:
Alisa Perkins
918-524-8081
investor.relations@semgroupcorp.com
Media:
Tom Droege
918-524-8560
tdroege@semgroupcorp.com