Summary
ONEOK Inc. (OKE) filed an 8-K on July 28, 2016, primarily to announce dividend and distribution decisions. The company's board of directors approved a quarterly cash dividend of $0.615 per share of common stock, payable to shareholders of record on August 8, 2016. This action is a key indicator of the company's commitment to returning value to its shareholders. Additionally, the filing details a cash distribution approved by the board of directors of ONEOK Partners, L.P. (ONEOK Partners), a subsidiary in which ONEOK Inc. holds a significant ownership interest. The approved distribution for ONEOK Partners is $0.79 per unit for the second quarter of 2016, also with a record date of August 8, 2016. ONEOK Inc.'s substantial ownership in ONEOK Partners means the company will benefit directly from these distributions, reinforcing its overall financial performance and ability to generate shareholder returns.
Key Highlights
- 1ONEOK Inc. declared a quarterly cash dividend of $0.615 per common share.
- 2The dividend is payable on August 14, 2016, to shareholders of record on August 8, 2016.
- 3ONEOK Partners, L.P. approved a quarterly cash distribution of $0.79 per unit for Q2 2016.
- 4The ONEOK Partners distribution is also payable on August 14, 2016, to unitholders of record on August 8, 2016.
- 5ONEOK Inc. owns a 41.2% ownership interest in ONEOK Partners as of March 31, 2016.
- 6The company is leveraging its ownership in ONEOK Partners to benefit from distributions.