ONEOK Announces FY14 Financial Guidance

(RTTNews) - ONEOK, Inc. (OKE) announced that its 2014 cash flow available for dividends is expected to be in the range of $560 million to $640 million, reflecting higher anticipated cash distributions received from its general and limited partner interests in ONEOK Partners (OKS).

The company said a Jan. 1, 2014, transaction effective date for the separation of the company's natural gas distribution segment into ONE Gas, Inc. has been assumed for 2014 guidance disclosure purposes, with the separation expected to be completed in the first quarter 2014.

The 2014 guidance also includes a projected 53 percent increase in ONEOK's 2014 dividend declared to $2.33 per share, compared with $1.52 per share declared for 2013, subject to board approval. On a dividend paid basis, the 2014 dividend is expected to be $2.125 per share paid, compared with $1.48 per share paid in 2013, an increase of 44 percent.

ONEOK Partners, L.P. (OKS) announced that its 2014 net income is expected to increase 27 percent compared with the partnership's current 2013 earnings guidance that was updated Nov. 5, 2013.

ONEOK Partners' 2014 net income is expected to be in the range of $975 million to $1.075 billion, compared with its current 2013 earnings guidance range of $790 million to $830 million.