Well, it turns out, quite a bit:
Williams announced today it plans to increase the annual dividend on its common stock by 25 percent, to $1.00 per share. The company also outlined a new dividend policy that supports continued 10 to 15 percent annual dividend growth.
The dividend increase announced today is effective with Williams' quarterly dividend of $0.25 per share to be paid in December 2011. The new, $0.25 quarterly dividend is double what the company paid in December 2010. Most recently, the company had paid a quarterly dividend of $0.20 per share.
Williams' new dividend policy supports continued high payouts. The company plans to pay out substantially all of the distributions it receives from Williams Partners L.P. (NYSE:WPZ - News). Longer term, the company expects its Midstream Canada & Olefins segment to contribute significantly to dividend growth. In the near term, Williams plans to reinvest Midstream Canada & Olefins cash flows in attractive growth projects.
Williams also is providing 2011-13 segment profit and capital expenditure guidance that reflects the separation of the company's exploration and production business. See the full chart below.
"The significant dividend increase and our new dividend policy underscore our active transformation of Williams into a high-dividend, high-growth energy infrastructure company," said Alan Armstrong, president and chief executive officer.
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