This 4.5%-Yielding Pipeline Stock Just Made a $4.4 Billion Acquisition. Here's What It Means for the Dividend.

ONEOK is acquiring Brazos Midstream's Permian Midland assets for $4.4 billion, funded through a $9 billion minority equity investment from Apollo. The deal will double ONEOK's processing capacity in the Midland Basin, enable $5 billion in debt repayment, and position the company to accelerate dividend growth while maintaining its 30+ year dividend stability record.