The Williams Companies, Inc. Declares Special Dividend of $0.10 Per Share
OREANDA-NEWS. The Williams Companies, Inc. (NYSE:WMB) (“Williams”) today announced that its Board of Directors has declared a special dividend in the amount of $0.10 per share of Williams common stock, pursuant to the terms of the merger agreement between Williams and Energy Transfer Equity, L.P. (NYSE:ETE) (“ETE”). The special dividend is contingent on the consummation of the merger and will be payable to Williams holders of record at the close of business on the last business day prior to the closing of the merger. To receive the special dividend, holders of record on the last business day prior to the closing of the merger must hold their shares of Williams common stock up until the moment of closing of the merger. The special dividend is expected to be paid as promptly as practicable after the closing of the merger. The merger is contingent upon, among other things, receipt of Williams stockholder approval. The special meeting for Williams stockholders to vote on the merger will be held on June 27, 2016.
Williams (NYSE:WMB) is a premier provider of large-scale infrastructure connecting North American natural gas and natural gas products to growing demand for cleaner fuel and feedstocks. Headquartered in Tulsa, Okla., Williams owns approximately 60 percent of Williams Partners L.P. (NYSE: WPZ) (“WPZ”), including all of the 2 percent general-partner interest. WPZ is an industry-leading, large-cap master limited partnership with operations across the natural gas value chain from gathering, processing and interstate transportation of natural gas and natural gas liquids to petchem production of ethylene, propylene and other olefins. With major positions in top U.S. supply basins and also in Canada, WPZ owns and operates more than 33,000 miles of pipelines system wide – including the nation’s largest volume and fastest growing pipeline – providing natural gas for clean-power generation, heating and industrial use. WPZ’s operations touch approximately 30 percent of U.S. natural gas.