Kinder Morgan (KMI) Declares $0.20 Quarterly Dividend; 4.5% Yield

Kinder Morgan (NYSE: KMI) declared a quarterly dividend of $0.20 per share, or $0.8 annualized.

The dividend will be payable on November 15, 2018, to stockholders of record on October 31, 2018, with an ex-dividend date of October 30, 2018.

The annual yield on the dividend is 4.5 percent.

“The dividend we are declaring is once again a 60 percent increase from last year’s fourth quarter dividend, and is consistent with the plan KMI announced during the summer of 2017,” said Richard D. Kinder, Executive Chairman. “We made tremendous progress on our balance sheet and on developing attractive new projects during the quarter.”

“The third quarter was a momentous one for our company,” Chief Executive Officer Steve Kean noted. “We closed the Trans Mountain transaction on August 31 and then made a final investment decision on the Permian Highway Pipeline Project less than a week later. Our three-year campaign to strengthen KMI’s balance sheet reached an important milestone as we ended the quarter with an Adjusted Net Debt-to-Adjusted EBITDA ratio of approximately 4.6 times. Consistent with that achievement, all three ratings agencies have provided formal notification that our credit ratings are on positive outlook for an upgrade, and S&P announced they expect to raise our rating in January.”

Kean continued, “We are maintaining our planned substantial dividend increase and we have also revised our long-term leverage target from at or below 5.0 times to around 4.5 times, which is consistent with where we ended the quarter.”

For a dividend history and other dividend-related data on Kinder Morgan (KMI) click here.

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