Earnings of BOK Financial (BOKF) are expected to dip in 2020 due to a compression in net interest margin following the three Fed rate cuts in 2019. A slight increase in operating expenses due to expected balance sheet expansion is also expected to pressurize the bottom-line. Furthermore, the energy sector, which is BOKF's specialty sector, can lead to higher provisions charge and thereby depress earnings. Due to the prospects of earnings decline I'm expecting BOKF to hold its dividend payout constant at the current level throughout 2020. This payout will result in a