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| January 24, 2023 | | Analyst Contact: | Brandon Lohse
918-947-7472 |
| | Media Contact: | Leah Harper
918-947-7123 |
ONE Gas Increases Quarterly Dividend;
Narrows 2022 Financial Guidance
TULSA, Okla. - Jan. 24, 2023 - 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.
2022 FINANCIAL GUIDANCE
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.
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ONE Gas, Inc. (NYSE: OGS) is a 100% 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.
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