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EQUITY | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
EQUITY | EQUITY Equity Issuances - On September 25, 2023, we completed the previously announced agreement to acquire all the outstanding common units of Magellan in a cash-and-stock transaction. Pursuant to the Merger Agreement, each common unit of Magellan was exchanged for a fixed ratio of 0.667 shares of ONEOK common stock and $25.00 of cash. A total of approximately 135 million shares of common stock were issued, with a fair value of approximately $9.0 billion as of the closing date of the Magellan Acquisition. Dividends - Holders of our common stock share equally in any dividend declared by our Board of Directors, subject to the rights of the holders of outstanding Series E Preferred Stock. Dividends paid on our common stock in February 2023, May 2023 and August 2023 were $0.955 per share. A common stock dividend of $0.955 per share was declared for shareholders of record at the close of business on November 1, 2023, payable November 14, 2023. Our Series E Preferred Stock pays quarterly dividends on each share of Series E Preferred Stock, when and if, declared by our Board of Directors, at a rate of 5.5% per year. We paid dividends for the Series E Preferred Stock of $0.3 million in February 2023, May 2023 and August 2023. Dividends totaling $0.3 million were declared for the Series E Preferred Stock and are payable November 14, 2023.

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