ONEOK, Inc. announced on January 22, 2025, that its board of directors increased the quarterly common stock dividend to $1.03 per share, representing a 4% increase. This results in an annualized dividend of $4.12 per share, payable on February 14, 2025, to shareholders of record on February 3, 2025.
The company also reported repurchasing 1.675 million shares of its outstanding common stock for $171.7 million using cash on hand. These repurchases are part of ONEOK's $2 billion share repurchase authorization, which it expects to largely utilize over the next three years.
ONEOK's president and chief executive officer, Pierce H. Norton II, stated that these actions reflect the company's value-driven capital allocation strategy and its financial flexibility to return significant value to shareholders. This demonstrates confidence in its disciplined growth approach.
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