$WMB (Williams Companies, Inc.)

$WMB {{ '2016-08-25T08:38:30+0000' | timeago}} • Announcement

$WMB's cost reduction initiatives to address slower growth are on-track, with $55MM in lower adjusted costs for 2Q16 versus 2Q15 despite additional assets being in service. $WMB and Williams Partners disclosed a 2017 $3.1Bil growth capital program, about three-quarters of which relate to Transco expansions in high growth demand markets.

$WMB {{ '2017-08-28T13:28:10+0000' | timeago}} • Announcement

$WMB appointed John Chandler as SVP and CFO, effective Sept. 5, 2017. Chandler will replace Don Chappel, who announced his planned retirement from the company earlier this year. Until 2014, Chandler served as CFO of $MMP beginning that role in 2002 in advance of $MMP's spinoff from $WMB in 2003.

$WMB {{ '2017-08-17T13:13:50+0000' | timeago}} • Announcement

$WMB has approved a regular dividend of $0.30 per share, or $1.20 annualized, on the company’s common stock, payable on Sept 25, 2017 to holders as on Sept 8, 2017.

$WMB {{ '2017-06-20T14:09:26+0000' | timeago}} • Announcement

$WMB announced that Frank J. Ferazzi has been named senior vice president over the company’s Atlantic-Gulf operating area, succeeding Rory Miller, who has announced his retirement. Ferazzi has served as vice president and general manager, Eastern Interstates in the Atlantic-Gulf operating area since 2012.

$WMB {{ '2017-06-14T18:27:16+0000' | timeago}} • Announcement

$WMB announced that Chad Zamarin has been appointed senior vice president of Corporate Strategic Development, effective June 26. He succeeds Frank Billings, who previously announced his retirement.

$WMB {{ '2017-05-19T15:29:07+0000' | timeago}} • Announcement

$WMB elected Stephen Bergstrom as Chairman of the Board, effective immediately. Bergstrom will replace Kathleen Cooper who will become Chair of the Board’s Nominating and Governance Committee. Cooper has served on $WMB Board since 2006. The BoD consists of 11 members, 10 of whom are independent.

$WMB {{ '2017-05-04T15:50:02+0000' | timeago}} • Webcast

$WMB said there is a renewed interest in Powder River basin. The company is exploring some new formations in that area and believes to have a strong growth trajectory there.

$WMB {{ '2017-05-04T14:49:03+0000' | timeago}} • Webcast

$WMB said that it would use the proceeds from the Williams Olefins transaction to pay out $850MM term loan and fund the CapEx. The company added that it doesn't have the outlook for consolidated EBITDA currently.

$WMB {{ '2017-05-04T11:16:43+0000' | timeago}} • Announcement

Through 1Q17, $WMB reduced its debt by $1.623Bil. It expects to have excess cash available to reduce debt throughout 2017 after paying its dividend and other cash requirements. As a result, the company expects to reduce Williams’ parent-company debt by approx $500MM for FY17.

$WMB {{ '2017-05-04T11:14:04+0000' | timeago}} • Announcement

In 1Q17, $WMB's Williams Partners reported adjusted EBITDA of $1.117Bil, an increase of  $57MM YoY. In Other segment, adjusted EBITDA improved to $28MM.

$WMB {{ '2017-05-04T11:07:50+0000' | timeago}} • Announcement

Energy company $WMB swung to a profit in 1Q17 from a loss in the year-over period, driven by a $254MM increase in investing income. Net income stood at $373MM, or $0.45 per share, compared to a loss of $65MM, or $0.09 per share in the year-over period. Excluding items, income from continuing operations rose to $0.14 per share.

$WMB {{ '2017-03-22T12:16:40+0000' | timeago}} • Announcement

$WMB appointed US Magistrate Judge Lane Wilson as SVP and general counsel, succeeding Sarah Miller, who previously announced her resignation. Judge Wilson will report directly to CEO Alan Armstrong.

$WMB {{ '2017-02-16T15:48:59+0000' | timeago}} • Webcast

Regarding the taxpayer status, $WMB said it do not expect to be cash payer through 2020. Beyond that, it will be a function of future capital investment, but there are few capital opportunities that will provide tax shield beyond 2020, said the company.

$WMB {{ '2017-02-16T15:14:46+0000' | timeago}} • Webcast

During 2016, $WMB continued to bring major new projects into service and made projects on others that are now permitted. The company said it closed the sale of its Canadian assets in 2016 and announced a restructured win-win gathering agreements in the Barnett and mid current regions with Chesapeake.

$WMB {{ '2017-02-15T21:55:23+0000' | timeago}} • Announcement

As part of the financial repositioning plan, $WMB increased its regular quarterly dividend to $0.30 per share, up 50% from $0.20 paid in Dec. 2016. This increased dividend will be paid in March 2017. The company expects to pay $1.20 per share for 2017 and is targeting 10-15% annual growth for the next several years.

$WMB {{ '2017-02-15T21:51:20+0000' | timeago}} • Announcement

$WMB narrowed its net loss in 4Q16 to $15MM or $0.02 per share from a net loss of $715MM or $0.95 per share in the prior year quarter. 4Q16 results were helped by the absence of $1.1Bil pre-tax impairment of goodwill and $698MM of lower pre-tax impairments, lower expenses and higher commodity margins.

$WMB {{ '2017-02-14T16:31:06+0000' | timeago}} • Announcement

$WMB appointed Micheal Dunn as EVP, COO of the company, effective Feb. 27, 2017. In this newly created role, Dunn will focus on optimizing operations to enhance its competitive advantage and advance the execution of the company's long-term growth strategy. Dunn will report to CEO Alan Armstrong.

$WMB {{ '2017-01-11T17:44:07+0000' | timeago}} • Announcement

$WMB said it expects to pay a quarterly dividend of $0.30 per share ($1.20 per share on an annualized basis), effective with the quarterly dividend to be paid in March 2017. This is an increase of 50% above $WMB's dividend paid in December 2016 of $0.20 per share ($0.80 per share on an annualized basis).

$WMB {{ '2017-01-11T17:41:17+0000' | timeago}} • Announcement

$WMB expects to buy newly issued common units of $WPZ at a price of $36.08586 per unit. $WMB expects to fund the unit purchase with equity. $WPZ will not be required to pay distributions for the quarter ended Dec. 31, 2016 and the prorated portion of 1Q17 up to closing of the private placement.

$WMB {{ '2017-01-11T17:39:40+0000' | timeago}} • Announcement

$WMB and $WPZ agreed to permanently waive payment obligations under the incentive distribution rights held by $WMB and convert its economic general partner interest into a non-economic interest for 289MM newly issued $WPZ common units. The estimated transaction value is about $11.4Bil.

$WMB {{ '2017-01-10T12:38:52+0000' | timeago}} • Announcement

$WMB priced a public offering of 65MM shares of at $29 per share. The offering is expected to close on January 13, 2017. The company intends to use the net proceeds of the offering to purchase newly issued common units, representing limited partnership interests, in its subsidiary, $WPZ at a price of $36.08586 per unit.

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