ONEOK, Inc. announced this week an increase in the Tulsa company’s quarter dividend to 82.5 cents a share.
The board of directors okayed a 3-cent a share hike or 4 percent compared to the previous dividend. It translates into an annualized dividend of $3.30 a share.
The dividend will be payable Aug. 14 to shareholders of record at the close of business Aug. 6, 2018.
Leaders at ONEOK indicated they expect nearly 90 to 95% the dividend to be a return of capital. The company said it has increased its dividend by 34% since June of last year.
