ONEOK Partners (OKS) Increases Quarterly Dividend

October 8, 2009 4:08 PM EDT

ONEOK Partners, L.P. (NYSE: OKS) has increased the partnership's quarterly cash distribution to $1.09 per unit from $1.08 per unit, effective for the third quarter 2009, resulting in an annualized cash distribution of $4.36 per unit. The distribution is payable Nov. 13, 2009, to unitholders of record as of Oct. 30, 2009.

"The distribution increase reflects the benefit of our recently completed growth projects, which have increased our fee-based earnings, as well as an improved capital market environment," said John W. Gibson, chairman and chief executive officer of the general partner of ONEOK Partners. "As volumes behind these projects continue to ramp up, we anticipate additional opportunities to increase our distributions in the future."

ONEOK Partners has increased its distribution by more than 36 percent since April 2006, when a wholly owned subsidiary of ONEOK, Inc. (NYSE: OKE) became general partner.

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