The board of directors at OGE Energy Corp. announced this week the naming of BancFirst executive David Rainbolt to the board.
He will also be a member of the board’s audit committee and his appointment will be effective Jan. 1, 2019.
Rainbolt’s term will expire at the company’s annual shareholders’ meeting on May 16, 2019, at which time he will stand for re-election by the company’s shareholders.
Rainbolt, 62, is the Executive Chairman of BancFirst Corporation, having previously served for 25 years as its Chief Executive Officer. He has served in an executive leadership capacity throughout most of his 40-year career, specifically focused in acquisitions and corporate finance. Rainbolt has also chaired a number of community, charitable, professional and governmental boards and associations, receiving numerous awards for his service.
“We are excited to have such a recognized leader as David join the OGE board. His executive and board leadership experience, combined with his background in corporate finance complements our director leadership,” said OGE Energy Corp. Chairman, President and Chief Executive Officer Sean Trauschke. “Moreover, his long history of dedication to our communities aligns well with our core value of public service.”
OGE Energy is the parent company of OG&E, a regulated electric utility serving approximately 847,000 customers in Oklahoma and Western Arkansas. In addition, OGE holds 25.6 percent limited partner interest and 50 percent general partner interest in Enable Midstream Partners LP.
The board also announced it approved a first-quarter dividend of $0.365 a share of common stock to be paid Jan. 30, 2019 to shareholders of record on Jan. 10, 2019.