On Thursday, January 22, 2026, the Board of Directors of ONEOK, Inc. (NYSE: OKE) announced a quarterly dividend increase from $1.03 to $1.07 per share. The dividend will be payable on February 13, 2026, to shareholders of record as of February 2, 2026. This represents a 3.88% increase over the prior quarterly dividend.
Current Dividend Yield and Income Impact
At yesterday’s closing price of $75.82, this dividend increase brings ONEOK’s forward dividend yield to approximately 5.64%, making it a compelling income opportunity within the midstream energy sector.
As an owner of 110 shares of ONEOK, this increase adds $13.11 to my projected annual net dividend income. The raise was fully in line with my expectations, and I am happy to accept it.
Long-Term Dividend Growth Track Record
This marks the 14th dividend increase I’ve received from ONEOK since initiating my first position in July 2015. Over the years, OKE has proven to be a reliable dividend payer, consistently generating strong cash flows to support shareholder returns.
Following this latest increase, my yield on cost now stands at 9.64%, highlighting the long-term benefits of holding quality dividend growth companies through multiple market cycles.
Quick Valuation Take
At current levels, ONEOK appears attractively valued relative to its historical yield range. The elevated dividend yield suggests the market remains cautious on energy infrastructure names, which may present an opportunity for long-term income investors willing to look beyond short-term volatility.
Dividend Safety and Outlook
ONEOK’s dividend remains well supported by stable, fee-based cash flows and a diversified midstream asset portfolio. Management continues to emphasize balance sheet discipline and shareholder returns, providing confidence in the sustainability of the dividend and the potential for continued moderate growth over time.
Final Thoughts
This dividend increase reinforces ONEOK’s role as a core income holding in my portfolio. With a high current yield, steady dividend growth, and a long operating history, OKE continues to meet my expectations as a long-term dividend investment.
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Full Disclosure: Long OKE
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