ONEOK Increases Quarterly Dividend
TULSA, Okla., July 25, 2012 /PRNewswire/ — The board of directors of ONEOK, Inc. (NYSE: OKE) today increased the quarterly dividend to 33 cents per share of common stock from 30.5 cents per share on a post-split basis, a 2.5-cent-per-share, or 8 percent increase, effective for the second quarter 2012, payable Aug. 15, 2012, to shareholders of record at the close of business Aug. 6, 2012.
“This latest dividend increase is a result of incremental earnings generated by ONEOK Partners, allowing us to return value to our shareholders in the form of higher dividends,” said John W. Gibson, ONEOK chairman and chief executive officer.
Since January 2006, the company has increased the dividend 14 times, representing a 136-percent increase during that period.
ONEOK completed a two-for-one split of the company’s common stock on June 1, 2012, with the distribution of one share of ONEOK common stock for each share outstanding held by holders of record on May 24, 2012.
ONEOK, Inc. (pronounced ONE-OAK) (NYSE: OKE) is a diversified energy company. We are the general partner and own 43.4 percent of ONEOK Partners, L.P. (NYSE: OKS), one of the largest publicly traded master limited partnerships, which is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation’s premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. ONEOK is among the largest natural gas distributors in the United States, serving more than 2 million customers in Oklahoma, Kansas and Texas. Our energy services operation focuses primarily on marketing natural gas and related services throughout the U.S. ONEOK is a FORTUNE 500 company and is included in Standard & Poor’s (S&P) 500 Stock Index.
For information about ONEOK, Inc., visit the website: www.oneok.com.
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Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. The forward-looking statements relate to our anticipated financial performance and level of dividends. These forward-looking statements are made in reliance on the safe-harbor protections provided under the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “should,” “goal,” “forecast,” “guidance,” “could,” “may,” “potential,” “scheduled,” and other words and terms of similar meaning.
You should not place undue reliance on forward-looking statements. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Those factors may affect our operations, markets, products, services and prices. These and other risks are described in greater detail in Item 1A, Risk Factors, in our Annual Report on Form 10-K. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.
Analyst Contact: Andrew Ziola 918-588-7163 Media Contact: Brad Borror 918-588-7582
SOURCE ONEOK, Inc.