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

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

The annual yield on the dividend is 4.5 percent.

“The board is very pleased with the company’s progress during the quarter. We continue to aggressively de-lever even while maintaining our planned substantial dividend increase. We ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.9 times and expect to end the year below our 2018 budgeted leverage metric of approximately 5.1 times, excluding any impact from the use of Trans Mountain sale net proceeds,” said Richard D. Kinder, Executive Chairman. “We also continue to develop very attractive growth projects that build on our extensive North American energy infrastructure network. During the second quarter, we announced the joint development of the Permian Highway Project, which will provide a greatly needed associated-gas takeaway solution for producers,” Kinder added.

Chief Executive Officer Steve Kean said, “Two great attributes of this company are strategically positioned fee-based assets that generate predictable cash flows, and an inter-connected network that provides our customers with unrivaled flexibility. This quarter once again demonstrated both of those attributes. Several business units achieved strong financial performance in the second quarter and are poised to continue that success through the remainder of the year. In addition, during the second quarter we began work on the Gulf Coast Express Project and announced the joint development of our proposed Permian Highway Pipeline Project. Both of those projects take advantage of the unparalleled market access afforded by our existing network.”

Kean continued, “Overall, we had very good commercial and operating performance, though due to non-cash impairments taken during the quarter we are showing a second quarter loss per common share of $0.08. We achieved distributable cash flow (DCF) of $0.50 per common share in the quarter, representing 9 percent growth over the second quarter of 2017. This resulted in nearly $700 million of excess DCF above our dividend.”

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