OGS - ONE Gas Increases Quarterly Dividend; Narrows 2022 Financial Guidance

PR Newswire

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.

For more information and the latest news about ONE Gas, visit onegas.com and follow its social channels: @ONEGas , Facebook , LinkedIn and YouTube .

SOURCE ONE Gas, Inc.