Select Water Solutions Increases Quarterly Cash Dividend 17%

Rhea-AI Summary

Select Water Solutions (NYSE: WTTR) announced a 17% increase in its quarterly cash dividend to $0.07 per share of Class A common stock, payable on November 15, 2024, to shareholders of record as of November 5, 2024. A similar distribution will be made to SES Holdings unitholders. The company's CEO highlighted their commitment to shareholder returns, citing strong operating capabilities, cash flow generation, and infrastructure growth opportunities. The dividend increase reflects confidence in their capital efficient business model and expanding portfolio of contracted infrastructure and production-related revenue streams.

Positive

• 17% increase in quarterly dividend payment
• Strong cash flow generation indicated by management
• Robust balance sheet position
• Growing portfolio of contracted infrastructure revenue

Negative

• None.

GAINESVILLE, Texas, Oct. 25, 2024 /PRNewswire/ -- Select Water Solutions, Inc. (NYSE: WTTR) ("Select" or the "Company"), a leading provider of sustainable water and chemical solutions to the energy industry, today announced that its Board of Directors declared a quarterly cash dividend of $0.07 per share of Class A common stock, a 17% increase, to be paid on November 15, 2024, to holders of record as of the close of business on November 5, 2024. A comparable distribution of $0.07 per unit has also been approved to the unitholders of SES Holdings, LLC, which will be subject to the same payment and record dates. All future dividend payments are subject to quarterly review and approval by Select's Board of Directors.

John Schmitz, Chairman of the Board, President and CEO, stated, "Shareholder returns are core to our management philosophy. Once again, the Board has decided to increase the regular dividend payment, which reflects our continued confidence in Select's operating capabilities, cash flow generation, infrastructure growth opportunities, and the strength of our balance sheet. These factors, along with our capital efficient business model and growing portfolio of contracted infrastructure and production-related revenue streams, enable us to enhance our capital return program. We do so while maintaining a disciplined capital structure to support the growth of our business and continued expansion of our water recycling and infrastructure initiatives. We strongly believe in the long-term earnings and free cash flow generating capabilities of our business and are excited to share the benefits of this cash generation with our shareholders."

About Select Water Solutions, Inc.

Select is a leading provider of sustainable water and chemical solutions to the energy industry. These solutions are supported by the Company's critical water infrastructure assets, chemical manufacturing and water treatment and recycling capabilities. As a leader in sustainable water and chemical solutions, Select places the utmost importance on safe, environmentally responsible management of water throughout the lifecycle of a well. Additionally, Select believes that responsibly managing water resources throughout its operations to help conserve and protect the environment is paramount to the Company's continued success.  For more information, please visit Select's website, https://www.selectwater.com.

Contacts:	Select Water Solutions
	Garrett Williams
	VP – Corporate Finance & Investor Relations
	(713) 296-1010
	IR@selectwater.com
	Dennard Lascar Investor Relations
	Ken Dennard / Natalie Hairston
	(713) 529-6600
	WTTR@dennardlascar.com

 

View original content:https://www.prnewswire.com/news-releases/select-water-solutions-increases-quarterly-cash-dividend-17-302287017.html

SOURCE Select Water Solutions, Inc.

FAQ

What is Select Water Solutions' (WTTR) new quarterly dividend amount?

Select Water Solutions' new quarterly dividend is $0.07 per share, representing a 17% increase.

When will WTTR pay its next dividend?

WTTR will pay its next dividend on November 15, 2024, to shareholders of record as of November 5, 2024.

How much did Select Water Solutions (WTTR) increase its dividend?

Select Water Solutions increased its quarterly dividend by 17%.

Will SES Holdings unitholders receive the same dividend as WTTR shareholders?

Yes, SES Holdings unitholders will receive a comparable distribution of $0.07 per unit with the same payment and record dates.