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July 26, 2012 /PRNewswire/ -- The board of directors of the general partner of ONEOK Partners, L.P. (NYSE: OKS) today increased the partnership's quarterly cash distribution to
66 cents per unit from
63.5 cents per unit, effective for the second quarter 2012, resulting in an annualized cash distribution of
$2.64 per unit. The distribution is payable
Aug. 15, 2012, to unitholders of record as of
Aug. 6, 2012.
"This distribution increase reflects the continued growth by the partnership, primarily driven by the exceptional performance of our natural gas liquids segment," said
John W. Gibson, chairman and chief executive officer of ONEOK Partners. "We expect that the execution of our four-year,
$5.7 billion to $6.6 billion capital-investment program will enable us to continue to execute our strategy of delivering value to our unitholders."
ONEOK Partners has increased its distribution by approximately 65 percent since
April 2006, when a wholly owned subsidiary of ONEOK, Inc. (NYSE: OKE) became the sole general partner.
ONEOK Partners, L.P. (pronounced ONE-OAK) (NYSE: OKS) is one of the largest publicly traded master limited partnerships, and 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. Its general partner is a wholly owned subsidiary of ONEOK, Inc. (NYSE: OKE), a diversified energy company, which owns 43.4 percent of the overall partnership interest. ONEOK is one of the largest natural gas distributors in
the United States, and its energy services operation focuses primarily on marketing natural gas and related services throughout the U.S.
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Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act, as amended, and Section 21E of the Exchange Act, as amended. The forward-looking statements relate to our anticipated financial performance, liquidity, management's plans and objectives for our future operations, our business prospects, the outcome of regulatory and legal proceedings, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.