Summary
This 8-K filing from ONEOK Inc. (OKE) on July 27, 2012, primarily reports on dividend and distribution approvals and significant growth project announcements from both ONEOK Inc. and its master limited partnership subsidiary, ONEOK Partners, L.P. Key for investors is the declaration of a quarterly dividend for OKE common stockholders and a quarterly distribution for ONEOK Partners' unitholders, both payable in mid-August 2012. Furthermore, ONEOK Partners announced substantial investment plans, committing approximately $1 billion towards additional growth projects. This signals a strong focus on expanding its midstream infrastructure and future revenue streams, which could be a positive indicator for both ONEOK Inc. and its partnership unit holders, reflecting confidence in future operational performance and market demand.
Key Highlights
- 1ONEOK Inc. declared a cash dividend of $0.33 per common share for the second quarter of 2012.
- 2ONEOK Partners, L.P. approved a cash distribution of $0.66 per unit for the second quarter of 2012.
- 3Both the OKE dividend and ONEOK Partners' distribution are payable on August 15, 2012, to shareholders and unitholders of record on August 6, 2012.
- 4ONEOK Partners, L.P. announced plans to invest approximately $1 billion in additional growth projects.
- 5The company's ownership stake in ONEOK Partners, L.P. is approximately 43.4%, comprising 92.8 million common and Class B limited partner units plus the general partner interest.
- 6The information provided is furnished under Regulation FD and is not deemed 'filed' for purposes of Section 18 of the Exchange Act.