Hi-Crush Partners LP (ticker: HCLP) will be added to both the Alerian MLP Index (AMZ) and the Alerian MLP Equal Weight Index (AMZE) following the close of business on March 16, 2018.
“The addition of Hi-Crush to the AMZ and AMZE indices is recognition of the prudent investments we have made over the past few years, resulting in a stronger balance sheet and providing Hi-Crush with the sustainable cash flow to support meaningful distribution growth, while also executing on our significant unit repurchase program,” CFO Laura C. Fulton said.
Hi-Crush said that it expects to increase its quarterly cash distribution by approximately 10% per quarter for the foreseeable future (subject to periodic review and market conditions). The company repurchased 2,030,163 common units during the fourth quarter of 2017, for a total cost of $20.0 million under the authorized $100 million-unit buyback program. Hi-Crush said in February that it remains committed to the remaining $80 million of repurchases allowed under the program.
For full coverage of the company’s Q4/FY 2017 results, please click here.
EDITOR’S NOTE: Hi-Crush CFO Laura Fulton was featured recently in the EnerCom’s new online magazine EnerCom360 in the Women in Energy feature section, page 12-13.
