This 4.5%-Yielding Pipeline Stock Just Made a $4.4 Billion Acquisition. Here's What It Means for the Dividend.
Oneok is making a major acquisition and strengthening its financial profile.
Overview
Oneok (NYSE:OKE) is buying Brazos Midstream's Permian Midland Basin assets for over $4.4 billion. It's funding the deal through a $9 billion minority equity investment from funds managed by Apollo (NYSE:APO). These two deals will have major implications for the pipeline giant's roughly 4.5%-yielding dividend in the coming years.
Here's a look at Oneok's needle-moving acquisition and unique financing arrangement.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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