I have contacted the company for an estimate of the timing and amount of dividend payments in 2019. The company began trading only six weeks ago and thus far has not publicly stated what its dividend policy will be. However, what we do know is that ETRN owns a 91% interest in EQGP, which pays a forward annual dividend yield of 6.3%. Of course, ETRN is not obligated to pass through any of those dividends to its shareholders, but the assumption is that it will begin paying dividends in 2019 after it receives its next quarterly dividend payment from EQGP in February. My guess is they will start out on the low end (around 4%) to ensure that they can raise the dividend later in the year even if free cash flow does not improve, with an objective of getting it closer to 6% in 2020.

I heard back from ETRN, they said they will pay a dividend in 2019 and the initial guidance is for an annual dividend in the $1.70 – 1.90 range. That’s a lot more than I expected, the midpoint of that range works out to a 9% yield at today’s share price of just under $20.