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DT Midstream, Inc. reports developments tied to its natural gas midstream network, including interstate and intrastate pipelines, storage and gathering systems, compression, treatment and surface facilities. The company provides transportation, storage and gathering services for utilities, power plants, marketers, large industrial customers and energy producers across the Southern, Northeastern and Midwestern United States and Canada.
Recurring news themes include quarterly and annual financial results, Adjusted EBITDA guidance, dividend actions, pipeline expansion projects, open seasons, in-service lateral and gathering-system updates, and governance matters such as annual meeting dates and board leadership changes. Company updates also reference named systems and projects including Vector Pipeline, Millennium Pipeline, Midwestern Gas Transmission, Guardian Pipeline, LEAP and Haynesville gathering operations.
DT Midstream (NYSE: DTM) has declared a dividend of $0.60 per share on its common stock, payable on January 15, 2022, to shareholders of record by the close of business on December 20, 2021.
David Slater, president and CEO, emphasized the company's strong performance and commitment to maintaining a competitive and growing dividend. DT Midstream operates natural gas pipelines and systems across the U.S. and Canada, and aims for net-zero greenhouse gas emissions by 2050, with a goal of reducing carbon emissions by 30% within the next decade.
DT Midstream announced a strong third quarter performance for 2021, reporting net income of $74 million, or $0.77 per diluted share. The company increased its 2021 adjusted EBITDA guidance by 10% and operating earnings guidance by 12%, emphasizing significant financial growth. Key achievements include solid operating earnings of $75 million and adjusted EBITDA of $188 million. Additionally, DT Midstream highlighted an industry-first carbon-neutral expansion on its Haynesville pipeline system, aimed at sustainable growth. The company remains on track for 5-7% growth into 2022.
DT Midstream (NYSE: DTM) and Mitsubishi Power Americas have entered a strategic agreement to enhance clean hydrogen energy projects in the U.S. This partnership aims to develop a hydrogen 'hub and spoke' system by utilizing DT Midstream's extensive pipeline infrastructure. Key initiatives focus on hydrogen production, transportation, and storage, leveraging Mitsubishi's advanced energy technologies. The joint development will support low carbon solutions across utilities, transportation, and industrial sectors.
DT Midstream (NYSE: DTM) and Mitsubishi Power Americas have entered a strategic joint development agreement to enhance clean hydrogen energy projects across the U.S. This collaboration aims to integrate Mitsubishi's hydrogen technologies with DT Midstream’s extensive energy infrastructure. The focus will be on the production, storage, and transportation of hydrogen for various applications, including power generation and industrial use. The partnership supports the low carbon transition, aiming to make clean hydrogen more accessible, leveraging DT Midstream’s significant pipeline network and Mitsubishi's Hydaptive™ technology.
DT Midstream, Inc. (NYSE: DTM) will announce its third quarter 2021 financial results on Nov. 5, 2021, prior to market opening. A conference call is scheduled for 9 a.m. ET, where investors can listen live online or via telephone. The webcast will be archived on their website, with audio replay available after the call. DT Midstream focuses on natural gas transportation, storage, and gathering across North America, aiming for net zero greenhouse gas emissions by 2050, including a 30% reduction target in the next decade.
DT Midstream (NYSE: DTM) has announced the creation of a $2 million charitable fund aimed at enhancing its corporate giving and encouraging employee volunteerism. The initiative aligns with the company's ESG goals and is designed to support community organizations suggested by employees. Since 2017, DT Midstream has contributed over $2.2 million to various charitable causes. Additionally, the company plans to reactivate its Employee Volunteer Program, allowing employees to participate in community service with paid time off.
DT Midstream, Inc. (NYSE: DTM) reported second quarter 2021 net income of $68 million or $0.70 per diluted share, with operating earnings of $89 million and adjusted EBITDA of $191 million. The company reaffirmed its 2021 adjusted EBITDA guidance of $710 million to $750 million and operating earnings guidance of $296 million to $312 million. On a positive note, DTM announced a $0.60 per share inaugural dividend, payable on October 15, 2021, reflecting strong financial positioning post-spinoff from DTE Energy, enhancing value for investors.
DT Midstream (NYSE: DTM) announces its new corporate headquarters will open on Nov. 1, 2021, in the Ally Detroit Center, retaining almost 80 jobs in downtown Detroit. The 26,000 square feet office will support its operations and showcase Detroit's innovative landscape. Following its spinoff from DTE Energy on July 1, 2021, DTM now employs nearly 300 team members. The company aims for net-zero greenhouse gas emissions by 2050, targeting a 30% reduction in the next decade while maintaining strong cash flows in its natural gas sector.
DT Midstream, Inc. (NYSE: DTM) is set to announce its second-quarter 2021 results on August 6, 2021, before market opening. A conference call will be held the same day at 9 a.m. ET, accessible via a live internet broadcast. The company, focused on natural gas transportation and aiming for net zero emissions by 2050, offers a range of services across the U.S. and Canada. The results announcement and subsequent call are critical for investors looking for insights into DTM's financial performance and strategic direction.