BOK Financial Corp.
TULSA — BOK Financial Corp. on Wednesday reported net income of $75.9 million. or $1.10 a diluted share, for the second quarter. That is down from $79.9 million, or $1.16 per diluted share, for the same period of 2013. “BOK Financial delivered improved results across the organization in the second quarter,” CEO Steven G. Bradshaw said. “Loan growth exceeded expectations, and each of our fee-generating businesses delivered very strong sequential revenue growth. The quarter’s results reflect the earnings power inherent in our diversified business model, as several lines of business grew this quarter, including energy lending, brokerage and trading, and mortgage banking. We are excited about the bank’s performance in the second quarter, and we believe our businesses are well-positioned for continued growth for the balance of 2014.” The company will pay a quarterly cash dividend of 40 cents a share on Aug. 29.
Williams Cos. Inc.
TULSA — Williams Cos. Inc. on Wednesday posted profits of $103 million, or 15 cents a share, down from $142 million, or 21 cents a share in the second quarter of 2013. Adjusted income from continuing operations improved to $158 million or 23 cents a share, up from $129 million or 19 cents a share in the year-ago period. Cash distributions from Williams Partners and Access Midstream Partners improved 29 percent to $509 million, up from $395 million one year ago. “Our recent acquisition of significant additional interests in Access Midstream Partners, which has extensive natural gas gathering systems in attractive growth basins, is expected to further enhance our presence in key regions and deliver immediate and future dividend growth for Williams' shareholders,” CEO Alan Armstrong said. “We expect the acquisition will also reinforce Williams' stable, fee-based business model and support our industry-leading dividend growth strategy.”
TULSA — Williams Partners LP on Wednesday reported net income of $ 232 million or 11 cents a share, down from $271 million or 31 cents a share in the second quarter of 2013. Distributable cash from from the partnership’s operations improved 30 percent to $504 million, up from $387 million in the year-ago period. The partnership attributed the increase in distributable cash flow to a 7 percent growth in fee-based revenues and an increase in results from the partnership’s Geismar plant. “While we’ve enjoyed strong growth in our fee-based revenues, we expect to see even more growth in the next half of the year as we bring into service two large, deepwater projects, Gulfstar One and Keathley Canyon,” CEO Alan Armstrong said. “We’re also seeing tailwinds building behind our strategy to grow cash flow by building large-scale, fee-based infrastructure that connects the best supplies to the best markets in North America.”
From Staff Reports