ONE Gas, Inc. reported an increase in net income for the first quarter 2021 totaling $95.6 million or $1.79 per diluted share.
The income compared to $91.7 million or $1.72 per diluted share for the first quarter of 2020. The company cited colder weather in the first quarter of 2021 when actual heating degree days in ONE Gas’s service areas were 7% colder than normal and 19% colder than the same time period last year.
The board of directors declared a quarterly dividend of $0.58 per share, or $2.32 per share on an annualized basis, payable on
June 1, 2021, to shareholders of record at the close of business on May 17, 2021.
“Since we first reported on the operational and financial impact of Winter Storm Uri in February, we have worked collaboratively with our regulators and legislators to minimize the financial impact to our customers,” said Pierce H. Norton II, president and chief executive officer. “We are pleased that legislation has been passed and signed by the governors in Kansas and
Oklahoma, and is being considered in Texas, to allow securitization as a means to finance the extraordinary costs associated with the storm.”
The company stated its first quarter 2021 operating income was $130.3 million, down about $3 million from the first quarter of 2020.
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