The board of directors of ONE Gas, Inc. increased the dividend for the first quarter 2024 by 1 cent per share to 66 cents per share, resulting in an annualized dividend of $2.64 per share.
The dividend is payable March 8, 2024, to shareholders of record at the close of business Feb. 23, 2024.
The company expects an average annual dividend increase of 1% to 2% through 2028, with a target dividend payout ratio of approximately 55% to 65% of net income, subject to approval by the board of directors.
2023 FINANCIAL GUIDANCE
ONE Gas also narrowed its 2023 financial guidance to earnings of $4.12 to $4.16 per diluted share from the previous range of $4.06 to $4.22 per diluted share. Net income is now expected to be in the range of $229 million to $233 million. Capital investments for 2023 are expected to be approximately $725 million.
Headquartered in Tulsa, Oklahoma, ONE Gas provides a reliable and affordable energy choice to more than 2.3 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers.