The board of directors of ONE Gas, Inc. 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% between 2015 and 2020, with a target dividend payout ratio of 55% to 65% of net income, all subject to its board of directors' approval.