Cision PR Newswire
ONE Gas Increases Quarterly Dividend; Narrows 2022 Financial Guidance
News provided byONE Gas, Inc.
Jan 24, 2023, 4:15 PM ET
TULSA, Okla., Jan. 24, 2023 /PRNewswire/ -- The board of directors of ONE Gas, Inc. (NYSE: OGS) today increased the dividend for the first quarter 2023 by 3 cents per share to 65 cents per share, resulting in an annualized dividend of $2.60 per share.
The dividend is payable March 10, 2023, to shareholders of record at the close of business Feb. 24, 2023.
The company expects an average annual dividend increase of 4% to 6% through 2027, with a target dividend payout ratio of 55% to 65% of net income, subject to its board of directors' approval.
The Company also narrowed its 2022 financial guidance to earnings of $4.06 to $4.10 per diluted share from the previous range of $4.00 to $4.16 per diluted share. Net income is now expected to be in the range of $221 million to $223 million. Capital investments are expected to be approximately $655 million.
ONE Gas, Inc. (NYSE: OGS) is a 100-percent 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.
Headquartered in Tulsa, Oklahoma, ONE Gas provides a reliable and affordable energy choice to more than 2.3 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.
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SOURCE ONE Gas, Inc.