This 8.5%-Yielding Dividend Stock Is Heading Back Toward Solid Ground

Last year was supposed to be a monster one for pipeline giant ONEOK (NYSE: OKE). It was putting the finishing touches on several needle-moving expansion projects, which it thought would fuel 25% earnings growth in 2020 and an additional 20% surge in 2021. 

Unfortunately, last year's turbulent conditions in the energy market threw a wrench in those plans, which also put its 8.5%-yielding dividend on shaky ground. However, the oil market has improved significantly in recent months, which was evident in its strong finish to 2020. It now sees more growth ahead in 2021, enhancing the sustainability of its big-time dividend.

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Source Fool.com