June 18 (LNGJ) - Cheniere Energy, the largest US LNG producer with the Sabine Pass and Corpus Christi plants and their expansion projects, has received board approval for an increase in its share repurchase authorisation by an additional $4 billion through 2027, and for a plan to increase its quarterly dividend by 15 percent to $2.00 per common share annualised, commencing with the third quarter 2024.
Cheniere noted that the capital allocation plan started in 2022 to enable investment in growth projects while returning capital to shareholders. Share repurchases allow companies to re-invest in themselves while boosting the value of the shares as there are fewer outstanding. “Cheniere has funded accretive brownfield growth, bringing the Corpus Christi Stage 3 project to over 60 percent completion, repurchased 10 percent of shares outstanding while growing its dividend by over 30 percent,” Cheniere said.
