ONE Gas Increases Quarterly Dividend

Rhea-AI Summary

ONE Gas, Inc. (NYSE: OGS) announced a dividend increase of 4 cents per share, raising the quarterly dividend to 58 cents, resulting in an annualized dividend of $2.32. The dividend is set to be paid on March 5, 2021, to shareholders on record by February 19, 2021. The company anticipates an average annual dividend increase of 6% to 8% from 2020 to 2025, targeting a payout ratio of 55% to 65% of net income, subject to board approval. ONE Gas is a regulated natural gas utility serving over 2 million customers across Kansas, Oklahoma, and Texas.

Positive

• Dividend increase of 4 cents per share to 58 cents.
• Annualized dividend now $2.32 per share.
• Expected average annual dividend increase of 6% to 8% from 2020 to 2025.

Negative

• None.

TULSA, Okla., Jan. 19, 2021 /PRNewswire/ -- The board of directors of ONE Gas, Inc. (NYSE: OGS) today increased the dividend for the first quarter 2021 by 4 cents per share to 58 cents per share, resulting in an annualized dividend of $2.32 per share.

The dividend is payable March 5, 2021, to shareholders of record at the close of business Feb. 19, 2021.

The company expects an average annual dividend increase of 6% to 8% between 2020 and 2025, with a target dividend payout ratio of 55% to 65% of net income, all subject to its board of directors' approval.

ONE Gas, Inc. (NYSE: OGS) is a 100% regulated natural gas utility, and trades on the New York Stock Exchange under the symbol "OGS." ONE Gas is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States.

ONE Gas, headquartered in Tulsa, Oklahoma, provides natural gas distribution services to more than 2 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers.

For more information, visit the website at www.onegas.com.

Analyst Contact: Brandon Lohse
918-947-7472

Media Contact: Leah Harper
918-947-7123

View original content:http://www.prnewswire.com/news-releases/one-gas-increases-quarterly-dividend-301211176.html

SOURCE ONE Gas, Inc.

FAQ

What is the new dividend amount for ONE Gas (OGS)?

The new dividend amount for ONE Gas is 58 cents per share.

When will the dividend for ONE Gas be payable?

The dividend will be payable on March 5, 2021.

What is the expected annual dividend growth for ONE Gas?

ONE Gas expects an annual dividend growth of 6% to 8% between 2020 and 2025.

What is the dividend payout ratio target for ONE Gas?

The target dividend payout ratio is 55% to 65% of net income, subject to board approval.