ONEOK Increases Quarterly Dividend 4%
Rhea-AI Summary
ONEOK (NYSE: OKE) has announced a 4% increase in its quarterly dividend to $1.03 per share, resulting in an annualized dividend of $4.12 per share. The dividend will be paid on February 14, 2025, to shareholders of record as of February 3, 2025.
The company has also reported progress on its share repurchase program, having bought back 1.675 million shares for $171.7 million using cash on hand. This is part of ONEOK's $2 billion share repurchase authorization, which it plans to largely utilize over the next three years.
As a leading midstream operator, ONEOK operates a 50,000-mile pipeline network for transporting natural gas, natural gas liquids, refined products, and crude oil across North America.
Positive
- 4% dividend increase to $1.03 quarterly ($4.12 annualized)
- $171.7 million in completed share repurchases
- $2 billion share repurchase program to be executed over three years
- Strong cash position enabling both dividend increase and share buybacks
Negative
- None.
News Market Reaction – OKE
On the day this news was published, OKE declined 1.33%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The dividend is payable Feb. 14, 2025, to shareholders of record at the close of business Feb. 3, 2025.
To date, ONEOK has repurchased 1.675 million shares of its outstanding common stock for
"With this latest dividend increase and recent share repurchases, we continue executing on our value-driven capital allocation strategy," said Pierce H. Norton II, ONEOK president and chief executive officer. "Our intentional and disciplined approach to growth has provided us with the financial flexibility to continue returning significant value to shareholders."
At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest diversified energy infrastructure companies in
ONEOK is an S&P 500 company headquartered in
For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram.
Some of the statements contained and incorporated in this news release are forward-looking statements as defined under federal securities laws. The forward-looking statements relate to our anticipated financial performance (including projected levels of quarterly and annual dividends), liquidity, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under federal securities laws and other applicable laws.
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," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "guidance," "intend," "may," "might," "outlook," "plan," "potential," "project," "scheduled," "should," "will," "would" and other words and terms of similar meaning.
One 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 most recent Annual Report on Form 10-K and in the other filings that we make with the Securities and Exchange Commission (SEC), which are available on the SEC's website at www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Any such forward-looking statement speaks only as of the date on which such statement is made, and, 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: | Megan Patterson |
918-561-5325 | |
Media Contact: | Brad Borror |
918-588-7582 |
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SOURCE Oneok, Inc.
FAQ
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