ONE Gas Increases Quarterly Dividend
TULSA, Okla., Jan. 21, 2020 /PRNewswire/ -- The board of directors of ONE Gas, Inc. (NYSE: OGS) today increased the quarterly dividend by 4 cents per share to 54 cents per share, effective for the first quarter 2020, resulting in an annualized dividend of $2.16 per share.
The dividend is payable March 6, 2020, to shareholders of record at the close of business Feb. 21, 2020.
The company expects an average annual dividend increase of 6% to 8% between 2019 and 2024, 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.
SOURCE ONE Gas, Inc.