Oneok Partners raises quarterly distribution, cites better earnings from capital investments
By APWednesday, January 20, 2010
Oneok Partners lifts quarter distribution to $1.10
TULSA, Okla. — Natural gas company Oneok Partners LP said Wednesday its general partner increased the partnership’s quarterly cash distribution by 1 cent to $1.10 per unit.
The partnership said the increase reflects growing fee-based earnings resulting from capital investments.
“As volumes associated with these completed projects continue to ramp up, we anticipate similar distribution increases in 2010,” said John Gibson, CEO of the general partner.
The distribution is payable Feb. 12, to unitholders of record Jan. 29.
Shares of Oneok Partners rose 5 cents to $65.61 in midday trading.
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