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ONEOK INCREASES COMMON STOCK DIVIDEND; FIVE DIRECTORS ARE RE-ELECTED

 TULSA, Okla., Jan. 21 /PRNewswire/ -- The board of directors of ONEOK Inc. (NYSE: OKE) today declared a quarterly dividend of 27 cents per share in its common stock, representing an increase of 2 cents per share.
 J. D. Scott, chairman of the board, president and chief executive officer of the Tulsa-based energy company, said that the new dividend is 8 percent more than the 25-cent-per-share dividend paid in each of the previous four quarters.
 Scott said, "This dividend increase represents our continued desire for ONEOK's dividend payment to be competitive with those of industry peers."
 The board also declared a regular quarterly dividend of 59.375 cents per share on its preferred stock, Series A, unchanged from the previous quarter. Both dividends will be payable Feb. 12 to shareholders of record Jan. 29.
 Prior to the board meeting ONEOK shareholders held their annual meeting and re-elected five members of the board of directors to new three-year terms.
 They are D. R. Cummings, president and owner, Cummings Oil Company, Oklahoma City; J. M. Graves, president and owner, Calumet Oil Company, Tulsa; G. R. Williams, M.D., professor of surgery at the University of Oklahoma College of Medicine, Oklahoma City; S. L. Young, president, The Young Companies, Oklahoma City; and J. D. Scott, chairman of the board, president and chief executive officer of ONEOK Inc., Tulsa.
 The company has seven other directors whose terms will expire in 1994 or 1995.
 In addition to re-electing the five directors, shareholders voted to ratify and approve the appointment of KPMG Peat Marwick as ONEOK's independent auditor. The firm has served in this capacity since 1951.
 -0- 1/21/93
 /CONTACT: Walt Radmilovich, Weldon Watson or Jerry Neal, 918-588-7000, all of ONEOK Inc./
 (OKE)


CO: ONEOK Inc. ST: Oklahoma IN: OIL SU: DIV

WB -- NY081 -- 7575 01/21/93 15:51 EST
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Publication:PR Newswire
Date:Jan 21, 1993
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