HOUSTON--(BUSINESS WIRE)--Feb. 25, 2014--
Exterran Holdings, Inc. (NYSE:EXH) today announced that its Board of
Directors has declared an initial quarterly dividend of $0.15 per share
of common stock, a rate of $0.60 per share on an annualized basis, to be
paid on March 28, 2014 to stockholders of record at the close of
business on March 14, 2014. It is the Company’s intention to pay regular
quarterly cash dividends going forward.
“Over the last three years we have successfully implemented performance
improvement initiatives to improve our financial performance, capital
position and the stability of our cash flows. The initiation of our
dividend program further demonstrates Exterran’s commitment to creating
value for stockholders while maintaining financial flexibility to
execute our strategic plan, continuing to strengthen our balance sheet
and investing for future growth. We believe this action reflects our
confidence in the strength and stability of our business and long-term
financial position,” said Brad Childers, Exterran Holdings’ President
and Chief Executive Officer.
Future amounts and payment dates of quarterly cash dividends will be
subject to the determination and approval of the Company’s Board of
Directors. The decision by the Board of Directors whether to pay any
future dividends and the amount of any such dividends will be based on,
among other things, the Company's financial position, results of
operations, cash flows, capital requirements, restrictions under the
Company's existing credit agreement and the requirements of applicable
law.
About Exterran Holdings
Exterran Holdings, Inc. is a global market leader in full service
natural gas compression and a premier provider of operations,
maintenance, service and equipment for oil and gas production,
processing and transportation applications. Exterran Holdings serves
customers across the energy spectrum—from producers to transporters to
processors to storage owners. Headquartered in Houston, Texas, Exterran
has approximately 10,000 employees and operates in approximately 30
countries. Exterran Holdings owns an equity interest, including all of
the general partner interest, in Exterran Partners, L.P. (NASDAQ: EXLP),
the leading provider of natural gas contract operations services to
customers throughout the United States. For more information, visit www.exterran.com.
Forward-Looking Statements
All statements in this release (and oral statements made regarding the
subjects of this release) other than historical facts are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements rely on a number of assumptions concerning future events and
are subject to a number of uncertainties and factors, many of which are
outside Exterran Holdings’ control, which could cause actual results to
differ materially from such statements. Forward-looking information
includes, but is not limited to: Exterran Holdings’ financial and
operational strategies and ability to successfully effect those
strategies; Exterran Holdings’ expectations regarding future economic
and market conditions; Exterran Holdings’ financial and operational
outlook and ability to fulfill that outlook; demand for Exterran
Holdings’ products and services and growth opportunities for those
products and services; statements relating to the initial dividend and
the timing thereof; and Exterran Holdings’ expectations as to the
payment of future dividends.
While Exterran Holdings believes that the assumptions concerning future
events are reasonable, it cautions that there are inherent difficulties
in predicting certain important factors that could impact the future
performance or results of its business. Among the factors that could
cause results to differ materially from those indicated by such
forward-looking statements are: local, regional, national and
international economic conditions and the impact they may have on
Exterran Holdings and its customers; changes in tax laws that impact
master limited partnerships; conditions in the oil and gas industry,
including a sustained decrease in the level of supply or demand for oil
or natural gas or a sustained decrease in the price of oil or natural
gas; Exterran Holdings’ ability to timely and cost-effectively execute
larger projects; changes in political or economic conditions in key
operating markets, including international markets; any non-performance
by third parties of their contractual obligations; changes in safety,
health, environmental and other regulations; and the performance of
Exterran Partners.
These forward-looking statements are also affected by the risk factors,
forward-looking statements and challenges and uncertainties described in
Exterran Holdings’ Annual Report on Form 10-K for the year ended
December 31, 2012, and those set forth from time to time in Exterran
Holdings’ filings with the Securities and Exchange Commission, which are
available at www.exterran.com.
Except as required by law, Exterran Holdings expressly disclaims any
intention or obligation to revise or update any forward-looking
statements whether as a result of new information, future events or
otherwise.
Source: Exterran Holdings, Inc.
Exterran Holdings, Inc.
Media
Susan Moore, 281-836-7398
or
Investors
David
Oatman, 281-836-7035
David Miller, 281-836-7895