01—Abstract
Summary
Summary of the 8-K filed October 17, 2024. Cited figures are marked; the original filing is the authoritative source.
ONEOK Inc. (NYSE: OKE) announced on October 16, 2024 that its board declared a quarterly common stock dividend of 99 cents per share, unchanged from the prior quarter.
This equates to an annualized dividend of $3.96a per share. The dividend is payable November 14, 2024, to shareholders of record as of the close of business on November 1, 2024. From an investor standpoint, this is a routine, non-material event.
The flat dividend signals management's continued commitment to the current payout level rather than a raise or cut, which is consistent with a steady-income posture for a midstream operator. The filing itself contains no new financial results, guidance changes, or operational updates; the only other information is a boilerplate business description noting that, as of October 15, 2024, ONEOK is the managing member of EnLink Midstream, LLC (NYSE: ENLC) and owns approximately 43%b of its outstanding common units.
The disclosure was filed under Items 7.01 (Regulation FD) and 8.01 (Other Events) and furnished as Exhibit 99.1. Investors seeking a view on ONEOK's financial health should look to its quarterly earnings reports and Form 10-Q/10-K filings for coverage ratios, leverage, and distributable cash flow trends, rather than this dividend notice alone.
02—Key points
Key Highlights
- Quarterly dividend declared at $0.99 per share, unchanged from the previous quarter.
- Annualized dividend rate of $3.96 per share, held flat rather than increased.
- Dividend payable November 14, 2024, to shareholders of record at the close of business on November 1, 2024.
- Announcement made October 16, 2024, and disclosed via Form 8-K under Items 7.01 and 8.01 with Exhibit 99.1 press release.
- ONEOK owns approximately 43% of EnLink Midstream, LLC's outstanding common units and serves as its managing member, as of October 15, 2024.
- The filing contains no new financial results, earnings guidance, or operational updates.
- ONEOK describes itself as a leading midstream operator with more than 50,000 miles of pipeline across gathering, processing, fractionation, transportation, and storage.
03—Questions
Frequently Asked Questions
Did ONEOK increase or cut its dividend?
Neither. The board declared a quarterly dividend of 99 cents per share, unchanged from the prior quarter, so the annualized rate remains $3.96 per share.
When will shareholders receive the dividend?
The dividend is payable on November 14, 2024, to shareholders of record at the close of business on November 1, 2024.
Does this filing include new financial results or guidance?
No. The 8-K covers only the dividend declaration and a boilerplate company description. Financial results and outlook would be found in ONEOK's earnings releases and periodic SEC reports.
What is ONEOK's relationship with EnLink Midstream?
As of October 15, 2024, ONEOK is the managing member of EnLink Midstream, LLC (NYSE: ENLC) and owns about 43% of EnLink's outstanding common units.
Is this filing material to investors?
The dividend declaration is a routine capital-return notice that reaffirms the existing payout level. It provides limited new information beyond confirming continuity of the current dividend.
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