ONEOK Partners Increases Quarterly Distribution to $0.61/Share from $0.595

The board of directors of the general partner of ONEOK Partners, L.P. OKS today increased the partnership's quarterly cash distribution to 61 cents per unit from 59.5 cents per unit, effective for the fourth quarter 2011, resulting in an annualized cash distribution of $2.44 per unit. The distribution is payable Feb. 14, 2012, to unitholders of record as of Jan. 31, 2012. "This distribution increase is higher than the guidance increase of 1 cent per quarter that we provided in September 2011 and reflects our continued commitment to provide value to our unitholders," said John W. Gibson, chairman and chief executive officer of ONEOK Partners. "We expect that our announced investments of approximately $2.7 billion to $3.3 billion for growth projects through 2014 will allow us to increase earnings and distributions to our unitholders." In September 2011, ONEOK Partners indicated that it expected to increase its distribution by 2 cents per quarter in 2012 and achieve 15 percent to 20 percent annual distribution growth in 2013 and 2014, subject to approval by the board of directors of the general partner.