Hi-Crush Partners resumes dividend with 15c payout, announces $100M buyback
Hi-Crush Partners announced today that the board of its general partner has declared a quarterly cash distribution of 15c per unit on all common units, or 60c on an annualized basis, for the third quarter of 2017. The distribution will be paid on November 14, 2017 to all common unitholders of record on October 31, 2017. Separately, the board also approved a unit buyback program of up to $100 million. "The stabilization of market conditions, combined with strong demand for frac sand and logistics services has benefited our business," said Laura Fulton, CFO of Hi-Crush. "With this in mind, our management, along with the board, determined that the timing was appropriate to resume capital return to unitholders and to do so in two distinct ways."