Summary
This 8-K filing from ONEOK INC /NEW/ (OKE), dated July 21, 2011, primarily reports on an increase in the quarterly cash distribution for ONEOK Partners, L.P. The distribution for the quarter ended June 30, 2011, has been raised to 58.5 cents per unit, up from the previous 57.5 cents per unit on a post-split basis. This increase reflects positively on the partnership's financial performance and its commitment to returning capital to unitholders. The distribution is scheduled to be paid on August 12, 2011, to unitholders of record as of August 1, 2011. The information was disseminated through a news release, attached as Exhibit 99.1, and is being furnished under Regulation FD. Investors should note that while this information is material, it is being furnished and not deemed 'filed' under Section 18 of the Exchange Act, meaning it doesn't carry the same legal implications as a formally filed document. Nonetheless, the increased distribution is a key indicator of operational success and management's confidence in future cash flows.
Key Highlights
- 1ONEOK Partners, L.P. announced an increased quarterly cash distribution for the second quarter of 2011.
- 2The new distribution rate is 58.5 cents per unit, a step-up from the previous 57.5 cents per unit on a post-split basis.
- 3The increased distribution is effective for the quarter ended June 30, 2011.
- 4The distribution payment date is August 12, 2011.
- 5The record date for the distribution is August 1, 2011.
- 6The announcement was made via a news release dated July 21, 2011, attached as Exhibit 99.1.
- 7The disclosure is made under Regulation FD and is furnished, not filed, under Section 18 of the Exchange Act.