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The board of directors of ONEOK, Inc. (OKE) today increased ONEOK’s quarterly cash dividend by 1.5 cents per share, or 3 percent, to 60.5 cents per share, effective for the fourth quarter 2014, resulting in an annualized cash dividend of $2.42 per share. The dividend is payable Feb. 13, 2015, to shareholders of record at the close of business Jan. 30, 2015.

“As the pure-play general partner of ONEOK Partners, we are committed to delivering sustainable, long-term value to our shareholders,” said Terry K. Spencer, president and chief executive officer of ONEOK. “Since 2006, the partnership has completed more than $8 billion in capital-growth projects and acquisitions, and it has another $3 billion in capital-growth projects in various stages of construction.  Even in this volatile commodity pricing environment, ONEOK remains well positioned to benefit from ONEOK Partners’ increased earnings and distributable cash flow as a result of completed capital-growth projects.”

This dividend increase is ONEOK’s fourth since becoming the pure-play general partner of ONEOK Partners in February 2014 and represents a 51 percent increase during that period.

ONEOK, Inc. (pronounced ONE-OAK) (NYSE: OKE) is the general partner and as of Sept. 30, 2014, owns 38.3 percent of ONEOK Partners, L.P. (OKS), one of the largest publicly traded master limited partnerships, which is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation’s premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. ONEOK is a FORTUNE 500 company and is included in Standard & Poor’s (S&P) 500 Stock Index.

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