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News Breaks | | | | September 9, 2012 | | 10:56 EDT |  | KMI | Settlement reached in El Paso shareholder lawsuits from El Paso acquisition
Kinder Morgan announced that its wholly owned subsidiary, El Paso LLC, has reached an agreement to settle all claims asserted against all defendants by the former shareholders of El Paso Corporation arising from the acquisition of El Paso by Kinder Morgan, which closed May 24. These claims were filed in lawsuits in Delaware, Texas and New York. As previously disclosed in KMI’s second quarter 10-Q, the settlement amount is $110M The settlement is subject to, among other conditions, approval by the Delaware Chancery Court. While the acquisition of El Paso benefited both KMI and El Paso shareholders, the company believes that resolving these claims at this time, avoiding the expense and uncertainty of continued litigation, and putting this matter behind it are in the best interest of its shareholders. | |
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| May 13, 2013 | | 16:57 EDT | | KMI | Kinder Morgan raises FY13 dividend to $1.60 per share from $1.57 per share
Kinder Morgan announced an increase in its projections for Kinder Morgan (KMI) and Kinder Morgan Energy Partners (KMP) primarily based on projected contributions from the Copano Energy acquisition, which closed on May 1. KMI now expects to declare dividends of $1.60 per share up from its published annual budget of $1.57 per share, which represents an increase of approximately 14% over its 2012 declared distribution of $1.40 per share. KMP now expects to declare cash distributions of $5.33 per unit, up from its 2013 published annual budget of $5.28 per unit, which represents a 7% increase over its 2012 declared distribution of $4.98 per unit. | |
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