Williams Companies Q2 Profit Declines

(RTTNews) - Williams Companies, Inc. (WMB) reported a second-quarter net income of $103 million or $0.15 per share, compared to $142 million or $0.21 per share, last year.

Adjusted income from continuing operations was $158 million or $0.23 per share, up from $129 million or $0.19 per share in the comparable quarter last year.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.23 for the quarter. Analysts' estimates typically exclude special items.

The company is increasing its third-quarter 2014 dividend by 32 percent to $0.56 per share. In addition to the third-quarter 2014 dividend increase, Williams also is affirming dividend-growth guidance of approximately 15 percent annually from the higher third-quarter 2014 base through 2017 with planned dividends of about $1.96 in 2014, $2.46 in 2015, $2.82 in 2016, and $3.25 in 2017. The expected quarterly increases in Williams' dividend are subject to quarterly approval of the company's board of directors.