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Kinder Morgan, Inc. Increases Quarterly Dividend To $0.40 Per Share

Stocks in this article: EPB KMI KMP KMR

Kinder Morgan, Inc. (NYSE: KMI) today increased its quarterly cash dividend to $0.40 per share ($1.60 annualized) payable on Aug. 15, 2013, to shareholders of record as of July 31, 2013. This represents an increase of 14 percent from the second quarter 2012 cash dividend per share of $0.35 ($1.40 annualized) and is up from $0.38 per share ($1.52 annualized) for the first quarter of 2013.

For the first six months of the year, KMI reported cash available to pay dividends of $807 million, 32 percent higher than $610 million reported for the same period in 2012. For the second quarter, KMI reported cash available to pay dividends of $294 million, down from $307 million for the same period a year ago primarily due to timing of cash tax payments. For the full year, KMI expects an 18 percent increase in the cash available for dividends over 2012 and, as previously announced, expects to declare dividends totaling $1.60 per share.

Chairman and CEO Richard D. Kinder said, “KMI reported strong results for the first two quarters of 2013 primarily due to continued strong performance at Kinder Morgan Energy Partners (NYSE: KMP), including contributions from KMP’s acquisition of Copano Energy on May 1, 2013, and solid results at El Paso Pipeline Partners (NYSE: EPB), as well as from the natural gas assets obtained in the May 2012 acquisition of El Paso Corporation.”

“Looking ahead, KMI is well positioned for future growth across our North American asset footprint,” Kinder said. “We currently have identified approximately $14 billion in expansion and joint venture investments across the Kinder Morgan companies, and we are pursuing customer commitments for many more projects.”

Outlook

As previously announced, KMI increased its expected declared dividend for 2013 to $1.60 per share from its 2013 published annual budget of $1.57 per share following the closing of the Copano acquisition. KMI’s revised expected declared dividend per share represents an increase of 14 percent over its 2012 declared dividend of $1.40 per share. Growth in 2013 is expected to be driven by continued strong performance at KMP, along with contributions from EPB and the natural gas assets that KMI acquired in the El Paso Corporation transaction.

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