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Targa Resources Corp. Announces Quarterly Dividend and Timing of Fourth Quarter 2024 Earnings Webcast

1. Targa declared a quarterly cash dividend of $0.75 per share. 2. A proposed dividend increase to $1.00 per share is planned for Q1 2025. 3. The dividend will appeal to investors in an uncertain economic climate. 4. Earnings report scheduled for February 20, 2025, may further impact investor sentiment.

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FAQ

Why Bullish?

The dividend increase indicates financial strength, positively influencing investor confidence, similar to past dividend announcements leading to stock rallies.

How important is it?

Dividends are crucial indicators of company health; significant changes directly affect stock performance.

Why Short Term?

Dividend announcements typically have immediate effects, as seen with previous Targa dividend increases boosting stock prices shortly after.

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NGLOXYXOM
January 16, 2025 19:00 ET  | Source: Targa Resources Corp. HOUSTON, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the fourth quarter of 2024. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the fourth quarter of 2024. This cash dividend will be paid February 14, 2025, on all outstanding common shares to holders of record as of the close of business on January 31, 2025. For the first quarter of 2025, Targa intends to recommend to its Board of Directors an increase to its common dividend to $1.00 per common share or $4.00 per common share annualized. The recommended common dividend per share increase, if approved, would be effective for the first quarter of 2025 and payable in May 2025. The Company will report its fourth quarter 2024 financial results before the market opens for trading on Thursday, February 20, 2025, and will host a live webcast over the internet at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss its 2024 fourth quarter financial results. Event InformationEvent: Targa Resources Corp. Fourth Quarter 2024 Earnings Webcast and PresentationDate: Thursday, February 20, 2025Time: 11:00 a.m. Eastern TimeWebcast: https://www.targaresources.com/investors/events or directly at https://edge.media-server.com/mmc/p/qgzvcwi7 Replay Information A webcast replay will be available at the link above approximately two hours after the conclusion of the event. A quarterly earnings supplement presentation and updated investor presentation will also be available at https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil. Targa is a FORTUNE 500 company and is included in the S&P 500. For more information, please visit the Company’s website at www.targaresources.com. Forward-Looking Statements Certain statements in this release are “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. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance and capital spending. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics or any other public health crises, commodity price volatility due to ongoing or new global conflicts, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, the timing and success of business development efforts and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Targa Investor RelationsInvestorRelations@targaresources.com(713) 584-1133

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