AmericasCorporate

Cheniere boosts quarterly dividend

By LNG Prime Staff
Cheniere boosts quarterly dividend
Image: Cheniere

US LNG exporting giant Cheniere has increased its quarterly dividend as it continues to expand its liquefaction capacity.

Cheniere said on Tuesday that its board of directors has declared a quarterly cash dividend of $0.500 ($2.00 annualized) per common share.

This is an increase of about 15 percent from the prior quarter.

Cheniere said the dividend will be payable on November 18 to shareholders of record as of the close of business on November 8.

The company plans to release its third-quarter results on Friday.

Cheniere reported revenue of $3.25 billion in the second quarter.

This compares to $4.1 billion in the second quarter last year and $4.25 billion in the prior quarter.

Net income was $880 million, compared to $1.37 billion the year before and $502 million in the prior quarter.

Cheniere is the largest LNG exporter in the US.

The company’s Sabine Pass facility in Louisiana currently has a capacity of about 30 mtpa following the launch of the sixth train in February 2022, and its three-train Corpus Christi plant in Texas can produce about 15 mtpa of LNG.

Cheniere expects to start producing LNG at its Corpus Christi expansion project in Texas by the end of this year.

The project includes building seven midscale trains, each with an expected liquefaction capacity of about 1.49 mtpa.

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