OREANDA-NEWS. Williams' (NYSE: WMB) board of directors has approved a regular dividend of USD 0.56 on the company's common stock, payable September 29 to holders of record at the close of business September 12.

The USD 0.56 quarterly dividend, or USD 2.24 on an annualized basis, is consistent with Williams' previously announced plans to increase its third-quarter 2014 dividend by USD 0.135, or 32 percent, from the previous quarterly dividend of USD 0.425 per share. The sharp increase in the third quarter dividend resulted from the July 1 acquisition of controlling interests in Access Midstream Partners as well as the decision to accelerate a planned shift to a pure play GP holding company.

The new amount is an increase of USD 0.193, or 52.9 percent, from the third-quarter 2013 dividend.

In addition to the third-quarter 2014 dividend increase, Williams also is affirming dividend-growth guidance of approximately 15 percent annually - from the higher third-quarter 2014 base - through 2017 with planned dividends of approximately USD 1.96 in 2014, USD 2.46 in 2015, USD 2.82 in 2016, and USD 3.25 in 2017.

The expected quarterly increases in Williams' dividend are subject to quarterly approval of the company's board of directors.

Williams has paid a common stock dividend every quarter since 1974.