The Williams Companies Inc., parent company of Salt Lake-based Northwest Pipeline Corp., has declared a second-quarter dividend on the company's common stock of 35 cents per share.

Directors also declared a second quarter dividend of $.613542 per share, for the period from May 4, the date of issuance, on the company's new convertible exchangeable preferred stock.The common stock dividend is payable on June 26 to stockholders of record at the close of business on June 2, 1989. The preferred stock dividend is payable June 30 to stockholders of record at the close of business June 16.