What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to announce the authorization of a new stock repurchase program by ONEOK's Board of Directors, allowing the company to buy back up to $750 million of its common stock.

How will ONEOK fund these stock repurchases?

The company intends to fund the repurchases using its available cash, free cash flow, and potentially short-term borrowings.

What is the duration and value of the stock repurchase program?

The program is authorized for up to $750 million of common stock and will conclude either upon reaching that repurchase amount or on December 31, 2013, whichever comes first.

Are there any limitations on the amount of stock that can be repurchased annually?

Yes, the program stipulates that no more than $300 million of common stock can be repurchased in any single calendar year.

OKE 8-K SEC Disclosure — Oct 25, 2010

Summary

ONEOK Inc. (OKE) announced a significant new stock repurchase program, authorized by its Board of Directors on October 21, 2010. This program allows the company to buy back up to $750 million of its common stock over a three-year period, ending no later than December 31, 2013. This initiative signals management's confidence in the company's financial health and its commitment to returning value to shareholders.

Key Highlights

1Authorization of a $750 million stock repurchase program.
2The program is set to run for three years, concluding by December 31, 2013.
3Annual repurchase limit is set at $300 million.
4Repurchases will occur through open market or privately negotiated transactions.
5Funding for repurchases will come from available cash, free cash flow, and short-term borrowings.
6The announcement was made on October 21, 2010, with the filing date of October 25, 2010.

ONEOK INC /NEW/ 8-K Report, Corporate Update (Oct 25, 2010)

Summary

Key Highlights

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