ONEOK Partners, L.P. (OKS) engages in the gathering, processing, storage, and transportation of natural gas in the United States. The partnership has paid distributions since 1994, and increased them every year since 2006.
ONEOK Partners is a master limited partnership (MLP), which is a pass through corporate structure. As such, profits are not taxed at the entity level, but at the individual partner level. Investors in MLPs are called limited partners, shares are called units and dividends are called distributions. As a result of the fact that the net results are taxed at the individual partner level, the taxation of these distributions could be slightly more challenging when compared to taxation of dividends from typical dividend stocks such as Chevron (CVX) for example. ONEOK (OKE) is the general partner and owner of 43.40% in ONEOK Partners (OKS).