ONEOK Announces 4% Increase in Quarterly Dividend to Enhance Shareholder Value

ONEOK's Latest Dividend Announcement

In a recent move that demonstrates its commitment to shareholder value, ONEOK, Inc. (NYSE: OKE) has declared an increase in its quarterly dividend by 4%. This adjustment brings the dividend to $1.03 per share, translating into an annualized dividend of $4.12 per share. The dividend will be payable on February 14, 2025, to shareholders who are on record by the close of business on February 3, 2025.

Share Repurchase Efforts

Furthermore, ONEOK has also embarked on a significant share repurchase initiative. To date, the company has repurchased approximately 1.675 million shares, costing about $171.7 million. This initiative falls within a broader $2 billion share buyback program, which the company plans to execute primarily over the next three years.

Pierce H. Norton II, the president and CEO of ONEOK, emphasized the importance of this dividend increase and the share repurchases in reinforcing the company's value-driven capital allocation strategy. He stated, "Our intentional and disciplined approach to growth has provided us with the financial flexibility to continue returning significant value to shareholders."

A Leader in Energy Infrastructure

ONEOK is a prominent midstream operator focused on delivering crucial energy products and services that support a modernizing world. With a robust pipeline network exceeding 50,000 miles, the company effectively gathers, processes, transports, and stores a variety of energy resources, including natural gas and crude oil, thus playing a vital role in meeting both domestic and international energy demands.

As one of North America's largest diversified energy infrastructure companies, ONEOK continues to commit to safe and responsible energy solutions that help shape the future of energy consumption.

The importance of such announcements cannot be overlooked in today's fluctuating market landscape. Shareholder confidence can significantly influence a company's reputation and market performance, and actions like dividend increases and share repurchase programs are often seen as positive indicators of a company's financial health.

Communication with Stakeholders

For investors and stakeholders seeking more information about ONEOK's operations, the company maintains an informative online presence. You can visit their official website at www.oneok.com for detailed insights. Additionally, the company can be found on major social media platforms including LinkedIn, Facebook, Twitter (now X), and Instagram.

Looking Ahead

While the recent dividend increase reflects strong confidence in the company’s financial strategy, ONEOK has also indicated its awareness of changing market conditions and potential risks. Forward-looking statements were included in their announcement, highlighting the unpredictability of market factors that could impact future performance.

Those interested in the latest updates and performance reviews of ONEOK can look forward to the fourth quarter earnings announcement scheduled for February 24, 2025, as well as regular updates in line with their ongoing business strategies.

In conclusion, this latest dividend increase, alongside significant share buybacks, underscores ONEOK's commitment to enhancing shareholder value through strategic financial planning and operational excellence.