Kinder Morgan, Inc. Increases Quarterly Dividend To $0.42 Per Share

Kinder Morgan, Inc. (NYSE: KMI) today reported first quarter cash available to pay dividends of $573 million, up 12 percent from $513 million for the same period a year ago, and remains on track to meet or exceed its published annual budget of $1.78 billion in cash available to pay dividends. The board of directors increased the quarterly cash dividend to $0.42 per share ($1.68 annualized), which is payable on May 16, 2014, to shareholders of record as of April 30, 2014. This represents an increase of 11 percent from the first quarter 2013 cash dividend per share of $0.38 ($1.52 annualized) and is up from the fourth quarter 2013 dividend of $0.41 ($1.64 annualized) per share.

Chairman and CEO Richard D. Kinder said, “KMI had an excellent first quarter led by continued strong performance at Kinder Morgan Energy Partners (NYSE: KMP) and solid results at El Paso Pipeline Partners (NYSE: EPB). We are excited about the future as we own and operate what we believe is a great set of midstream assets spanning the United States and western Canada. We have identified approximately $16.4 billion in expansion and joint venture investments at the Kinder Morgan companies that we are confident will come to fruition and drive growth at KMI for years to come. We are seeing unprecedented demand for natural gas transportation capacity. Since Dec. 1, 2013, we have entered into approximately 2.8 billion cubic feet per day of new firm transportation commitments with customers for terms averaging about 15 years. While many of these commitments result in expansion of our existing assets and drive additional capital expenditures included in our project backlog, about a quarter of the committed volumes is for existing unsubscribed capacity, both indicative of strong demand for our existing pipeline network. In January, due in part to record cold weather in many parts of the country, Kinder Morgan’s natural gas pipelines transported on average about 33 billion cubic feet per day, representing approximately one-third of the U.S. market demand.”

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