Kinder Morgan Energy Partners LP (KMP) Raises Quarterly Dividend 3.4% to $1.20; 5.8% Yield
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Kinder Morgan Energy Partners LP (NYSE: KMP) declared a quarterly dividend of $1.20 per share, or $4.8 annualized. This is a 3.4% increase from the prior dividend of $1.16.
The dividend will be payable on May 15, 2012, to stockholders of record on April 30, 2012, with an ex-dividend date of April 26, 2012.
The annual yield on the dividend is 5.8 percent.
Chairman and CEO Richard D. Kinder said, “KMP had a strong first quarter, as our stable and diversified assets continued to grow and produce incremental cash flow. In total, our five business segments produced more than $1 billion in segment earnings before DD&A and certain items, an increase of 17 percent over the first quarter of 2011, led by strong results at our CO2 and Natural Gas Pipelines businesses. Looking ahead, we believe there are multiple growth opportunities across our businesses related to the natural gas shale plays, growing CO2 needs in West Texas for enhanced oil recovery, increasing demand for export coal, and additional infrastructure requirements to transport products from the Canadian oilsands and to move and store natural gas liquids. With our large footprint of assets in North America, KMP is well positioned for future growth.”
For a dividend history and other dividend-related data on Kinder Morgan Energy Partners LP (KMP) click here.
The dividend will be payable on May 15, 2012, to stockholders of record on April 30, 2012, with an ex-dividend date of April 26, 2012.
The annual yield on the dividend is 5.8 percent.
Chairman and CEO Richard D. Kinder said, “KMP had a strong first quarter, as our stable and diversified assets continued to grow and produce incremental cash flow. In total, our five business segments produced more than $1 billion in segment earnings before DD&A and certain items, an increase of 17 percent over the first quarter of 2011, led by strong results at our CO2 and Natural Gas Pipelines businesses. Looking ahead, we believe there are multiple growth opportunities across our businesses related to the natural gas shale plays, growing CO2 needs in West Texas for enhanced oil recovery, increasing demand for export coal, and additional infrastructure requirements to transport products from the Canadian oilsands and to move and store natural gas liquids. With our large footprint of assets in North America, KMP is well positioned for future growth.”
For a dividend history and other dividend-related data on Kinder Morgan Energy Partners LP (KMP) click here.
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