Summary
ONEOK Inc. (OKE) filed an 8-K on July 23, 2015, primarily to disclose dividend and distribution information. The company's board of directors approved a quarterly cash dividend of $0.605 per share of common stock, payable on August 14, 2015. This action directly benefits common stockholders by providing a direct cash return on their investment. In addition to its own dividend, ONEOK Inc. also highlighted a cash distribution approved for ONEOK Partners, L.P. (ONEOK Partners). The board of directors of ONEOK Partners' general partner approved a cash distribution of $0.79 per unit for the second quarter of 2015, also payable on August 14, 2015. As ONEOK Inc. holds a significant ownership interest in ONEOK Partners, it will receive a substantial portion of this distribution, which indirectly benefits ONEOK Inc. shareholders.
Key Highlights
- 1ONEOK Inc. declared a quarterly cash dividend of $0.605 per share for common stockholders.
- 2The dividend payment date is August 14, 2015, with a record date of August 3, 2015.
- 3ONEOK Partners, L.P. approved a second quarter 2015 cash distribution of $0.79 per unit.
- 4The ONEOK Partners distribution is also payable on August 14, 2015, to unitholders of record as of August 3, 2015.
- 5ONEOK Inc. owns approximately 92.8 million common and Class B limited partner units in ONEOK Partners, representing a 36.8% ownership interest as of June 30, 2015.
- 6The company's participation in the ONEOK Partners distribution will contribute to ONEOK Inc.'s overall financial results.