Summit Midstream Extends Common Stock Dividend Suspension, Approves Preferred Payout
Summit Midstream Corporation continued its suspension of common stock dividends while declaring a quarterly payment on its Series A Preferred Stock. The board also approved full repayment of all previously deferred preferred dividends.
Summit Midstream Corporation (NYSE: SMLP), a midstream energy company operating natural gas gathering and processing assets, extended its suspension of cash dividends on common stock for the quarter ended December 31, 2025. The company's board of directors maintained the suspension that has been in place since May 2020. Read more dividend announcements.
The board declared a quarterly cash dividend on the company's Series A Preferred Stock for the period ending March 14, 2026. The payment will go to shareholders of record as of March 2, 2026.
In a separate move, Summit Midstream's board approved the full repayment of all previously deferred Series A Preferred Stock dividends. That payment is scheduled for March 27, 2026, to holders of record as of March 17, 2026.
Dividend Payment Details
| Security Type | Status | Record Date | Payment Date |
|---|---|---|---|
| Common Stock | Suspended | — | — |
| Series A Preferred Stock (Quarterly) | Declared | March 2, 2026 | March 14, 2026 |
| Series A Preferred Stock (Deferred) | Approved | March 17, 2026 | March 27, 2026 |
Fourth Quarter Operating Performance
Summit Midstream reported aggregate average daily throughput of 894 MMcf per day of natural gas and 66 Mbbl per day of liquids for the three months ended December 31, 2025. The company's Double E pipeline averaged 861 MMcf per day during the quarter.
The company recorded $58.5 million in Adjusted EBITDA for the fourth quarter, up from $46.2 million in the prior-year period. Free cash flow reached $17.0 million compared to $6.6 million a year earlier.
For the full year 2025, Summit Midstream generated net cash from operating activities of $133.6 million and Adjusted EBITDA of $242.6 million. Capital expenditures totaled $89.0 million for the year.
The company recorded MVC shortfall payment adjustments of $4.3 million in the fourth quarter, primarily from its Piceance Basin operations. For the full year, such adjustments totaled $17.5 million.