* Sees annual dividend up 40 pct between 2012 and 2014
* To invest additional $4.7 bln-$5.6 bln to boost output
* ONEOK Partners sees EBITDA growing 20 pct annually over
next 2 years
May 23 Natural gas processor ONEOK Inc
said it expects profit to grow by 18 percent in the next two
years as it ramps up spending to boost output at its unit ONEOK
The company also expects to boost its annual dividend by
about 40 percent between 2012 and 2014. It paid an annual
dividend of $2.16 per share in 2011.
"Projected dividend and net income growth at ONEOK is
expected to be driven primarily by natural gas and natural gas
liquids volume growth at ONEOK Partners," Chief Executive John
Gibson said at ONEOK's annual shareholders meeting.
The unit, in which the company holds a 43.4 percent
interest, is expected to complete its $5 billion growth program
by 2015, ONEOK Inc said in a statement.
ONEOK Partners expects its earnings before interest, taxes,
depreciation and amortization (EBITDA) to rise by about 20
percent annually between 2012 and 2014.
The parent company also plans to invest an additional $4.7
billion to $5.6 billion to boost production at its existing
Shares of ONEOK Inc, which has a market value of $8.6
billion, closed at $82.81 on Wednesday on the New York Stock
Exchange. Shares of ONEOK Partners closed at $55.42 on the same