Williams, ONEOK named to NYSE's new Century Index
BY ROD WALTON World Staff Writer
Friday, May 18, 2012
5/18/12 at 5:06 AM
Longtime Tulsa-based energy companies ONEOK Inc. and Williams Cos. Inc. are two of 100 firms named to the New York Stock Exchange's new Century Index, which honors corporations with enduring histories and recent stock success.
The inaugural index measures performance by U.S. companies at least 100 years old and market capitalizations of $1 billion or more. Other companies in the NYSE Century club include Aetna Inc., General Dynamics Corp., Macy's and Sherwin Williams, among others.
"This acknowledgement is a testament to the contributions of our dedicate employees - past and present," ONEOK Chairman and CEO John W. Gibson said in a statement. "Being included on this list demonstrates our commitment to providing value to our shareholders as well as our ability to innovate and thrive through decades of economic and social change."
The Century Index also celebrates the 220th anniversary of the NYSE's founding. The companies were selected using a criteria assessing a company's size and financial performance over a 10-year period.
"The NYSE community includes hundreds of innovative and successful companies that for more than a century have undergone remarkable growth and transformation, created shareholder value and millions of jobs, and have shaped America and the world," NYSE Euronext CEO Duncan L. Niederauer said in a statement.
ONEOK's origins date back to the incorporation of the Oklahoma Natural Gas Co. in 1906. The Tulsa firm, which owns utility ONG, as well as controlling interest in ONEOK Partners LP and two other utilities, has been listed on the stock exchange since 1954.
Williams' history dates back to 1908, when brothers Dave and Miller Williams started a concrete firm building sidewalks in Fort Smith, Ark. The oil boom pushed the brothers to Tulsa and the pipeline construction business in 1918.
Both stocks have performed strong in recent years. ONEOK hit an all-time high of $89.63 per share in January, while Williams' market value has grown nearly 20 percent in 2012 alone.
ONEOK employs 1,250 people in Tulsa and 4,800 companywide.
Williams' workforce totals 900 in Tulsa and 3,000 throughout operations in the U.S., Canada and Gulf of Mexico.
Original Print Headline: Honored companies
Rod Walton 918-581-8457
The Overland Pass Pipeline, shown in its construction phase a few years ago, ships natural gas liquids from Opal, Wyo., to Conway, Kan. The pipeline is a joint venture between two Tulsa-based companies - Williams and ONEOK. Courtesy