ONEOK Boosts Dividend; To Buy Back $2 Bln Of Shares

(RTTNews) - ONEOK Inc. (OKE) increased its quarterly dividend to 99 cents per share, an increase of 3.7%. This increase results in an annualized dividend of $3.96 per share. The dividend is payable February 14, 2024, to shareholders of record at the close of business January 30, 2024.

ONEOK expects to target an annual dividend growth rate ranging between 3% to 4%.

ONEOK's board has also authorized a $2 billion share repurchase program and targets it to be largely utilized over the next four years.

ONEOK noted that it has also opportunistically repurchased about $300 million of face value of its outstanding notes at a discount to par value during the fourth quarter of 2023 and finished the year with about $340 million of cash on hand.