TULSA, Okla., Jan. 19, 2016 /PRNewswire/ -- The board of directors of ONE Gas, Inc. (NYSE: OGS) today increased the quarterly dividend by 5 cents per share to 35 cents per share, effective for the first quarter 2016, resulting in an annualized dividend of $1.40 per share.

The dividend is payable Mar. 11, 2016, to shareholders of record at the close of business Feb. 26, 2016.

The company expects an average annual dividend increase of 8 to 10 percent between 2015 and 2020, with a target dividend payout ratio of 55 percent to 65 percent of net income, all subject to its board of directors' approval.

ONE Gas, Inc. (NYSE: OGS) is a natural gas distribution company and the successor to the company founded in 1906 as Oklahoma Natural Gas Company, which became ONEOK, Inc. (NYSE: OKE) in 1980. On January 31, 2014, ONE Gas officially separated from ONEOK into a stand-alone, 100 percent regulated, publicly traded natural gas utility.

ONE Gas trades on the New York Stock Exchange under the symbol "OGS," and is included in the S&P MidCap 400 Index.

ONE Gas provides natural gas distribution services to more than 2 million customers in Oklahoma, Kansas and Texas. ONE Gas is one of the largest publicly traded, 100 percent regulated, natural gas utilities in the United States.

ONE Gas is headquartered in Tulsa, Okla., and its companies include the largest natural gas distributor in Oklahoma and Kansas, and the third largest in Texas, in terms of customers.

Its largest natural gas distribution markets by customer count are Oklahoma City and Tulsa, Okla.; Kansas City, Wichita and Topeka, Kan.; and Austin and El Paso, Texas. ONE Gas serves residential, commercial, industrial, transportation and wholesale customers in all three states.

For more information, visit the website at http://www.ONEGas.com. 



    Analyst Contact:             Andrew Ziola

                                 918-947-7163

    Media Contact:               Jennifer Rector

                                 918-947-7571

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SOURCE ONE Gas, Inc.