S&P: Williams unaffected

Standard & Poor's said The Williams Cos. Inc.'s (B+/stable/B-2) decision to increase its dividend detracts from the company's credit quality, but does not affect its rating or outlook on the company.

S&P said Williams' board of directors approved a regular dividend of 7.5 cents per share on the company's common stock, raising the dividend by 50%.

The higher dividend may lower discretionary cash flow available to pay down debt and signal a slow down in future debt reduction, the agency noted.

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