TULSA, Okla. (AP) -- Williams directors approved a regular dividend of 7.5 cents per share on the company's common stock this week, up from the nickel per share the energy company paid in each of the three prior quarters.
The dividend will be payable on Sept. 12 to holders of record at the close of business on Aug. 26. Wednesday's increase is the second increase in the Williams dividend over the past year. In November 2004, Williams increased its dividend from a penny to a nickel.
"Were successfully executing our business plan and using our financial discipline to create superior, sustainable growth in shareholder value," said Steve Malcolm, chairman, president and chief executive officer.
"The dividend increase reflects the confidence we have in our business and our substantial liquidity position. Williams strong, sustainable cash flow is enabling growth initiatives, credit improvement and a positive return to our shareholders," Malcolm said.
The natural gas company has paid a common stock dividend every quarter since 1974.