Summary
ONEOK Inc. (OKE) filed an 8-K report on January 19, 2017, primarily disclosing the approval of its quarterly cash dividend and the cash distribution for its subsidiary, ONEOK Partners, L.P. The board of directors of ONEOK Inc. approved a cash dividend of $0.615 per share of common stock, payable on February 14, 2017, to shareholders of record as of January 30, 2017. This announcement is significant for income-focused investors as it confirms regular return of capital. Additionally, the general partner of ONEOK Partners, L.P., approved a cash distribution of $0.79 per unit for the fourth quarter of 2016, also payable on February 14, 2017, to unitholders of record as of January 30, 2017. ONEOK Inc. holds a significant ownership stake in ONEOK Partners, and its share of these distributions directly impacts the parent company's financial results. Investors should note that these disclosures are made under Regulation FD and are furnished, not filed, meaning they are not subject to the same liability provisions as a formal filing.
Key Highlights
- 1ONEOK Inc. declared a cash dividend of $0.615 per common share.
- 2The dividend is payable on February 14, 2017, to shareholders of record on January 30, 2017.
- 3ONEOK Partners, L.P. approved a cash distribution of $0.79 per unit for Q4 2016.
- 4The ONEOK Partners distribution is also payable on February 14, 2017, to unitholders of record on January 30, 2017.
- 5ONEOK Inc. holds a substantial ownership interest (41.2% as of Sept 30, 2016) in ONEOK Partners, L.P., including the general partner interest and incentive distribution rights.
- 6The information was disclosed via news releases attached as exhibits, provided under Regulation FD.
- 7The disclosures were furnished and not deemed 'filed' for purposes of Section 18 of the Exchange Act.