One Gas sees diluted EPS up 4%-6% annually through 2027

For the five years ending 2027, capital investments, including asset removal costs, are expected to be $675M-$775M per year, or approximately $3.6B for the five-year period, including growth capital of approximately $1.0B. The increase in capital supports estimated average rate base growth of 7% to 9% per year through 2027. Net income is expected to increase by an average of 7% to 9% annually through 2027, with diluted EPS of 4% to 6%. Operating costs over the five years are expected to increase on average approximately 5% per year. Expects to settle all outstanding forward equity sales by year-end 2022, with anticipated net proceeds of approximately $94M. Additionally, the company estimates total net long-term financing needs for the period 2023 through 2027 of approximately $1.8B, of which approximately 35% is expected to be equity. Expects to achieve an average annual dividend growth rate of 4%-6% through 2027, subject to board of directors’ approval, with a target dividend payout ratio of 55%-65% of net income.