ONEOK’s Board of Directors declared a quarterly dividend of 61.5 cents per share effective for the fourth quarter 2015. The annualized dividend has reached $2.46 per share. While the dividend is unchanged from the previous quarter, it is nearly two percent more than the fourth quarter 2014 dividend.
“In line with our recently announced financial guidance, we’re sustaining ONEOK’s current dividend and underscoring our expectation to continue to do so throughout 2016,” said ONEOK President and Chief Executive Officer Terry K. Spencer. “Despite a challenging environment, we expect to maintain substantial excess dividend coverage in 2016 and remain in a position to provide value to shareholders while continuing to make prudent financial decisions.”
ONEOK is the general partner and 41.2 percent owner of ONEOK Partners, LP. The board of directors for that company declared a quarterly cash distribution of 79 cents per unit for the fourth quarter 2015.
“ONEOK Partners’ board of directors and management team expects to report distribution coverage of greater than 1.0 times in the fourth quarter 2015. Even in this challenging commodity price environment, our integrated business model continues to deliver strong performance, and therefore, we’re maintaining the partnership’s current distribution of 79 cents per unit,” said Spencer.
The distribution will be payable on February 12, 2016, to unitholders on record as of February 1.
