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American Capital Agency Corp. Message Board

  • reit_freak reit_freak Jan 17, 2013 4:12 PM Flag

    OT; OKS increases distribution...

    TULSA, Okla., Jan. 17, 2013 /PRNewswire/ -- The board of directors of the general partner of ONEOK Partners, L.P. (NYSE: OKS) today increased the partnership's quarterly cash distribution 2.5 cents to 71 cents per unit from 68.5 cents per unit, effective for the fourth quarter 2012, resulting in an annualized cash distribution of $2.84 per unit. The distribution is payable Feb. 14, 2013, to unitholders of record as of Jan. 31, 2013.

    "This distribution increase is consistent with our strategy of delivering value to our unitholders and is a result of completed growth projects from our ongoing capital-investment program that continue to generate higher earnings and distributable cash flow," said John W. Gibson, chairman and chief executive officer of ONEOK Partners.

    In September 2012, ONEOK Partners indicated that it expects to increase its distribution by 2.5 cents per unit per quarter for the remainder of 2012 and 2 cents per unit per quarter in 2013, and achieve an average annual distribution increase of 10 to 15 percent between 2012 and 2015 while maintaining a minimum annual coverage ratio of 1.05 times, subject to approval by the board of directors of the general partner.

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