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News Breaks | | | | December 4, 2012 | | 06:03 EDT |  | KMI | Kinder Morgan releases financial expectations for FY13
Kinder Morgan announced its preliminary 2013 projections for Kinder Morgan (KMI), Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). Company stated, "We anticipate strong growth in 2013 across the Kinder Morgan family of companies. KMI's growth is driven primarily by its ownership of the general partners of KMP and EPB. The majority of our assets resides at KMP and EPB. KMR is financially equivalent to KMP, but does not own any assets. Kinder Morgan primarily owns or operates a diversified portfolio of fee-based energy assets that generate substantial cash flow in virtually all types of market conditions. With our large footprint of midstream assets in North America, we are confident that Kinder Morgan is well positioned for future growth." KMI expects to declare dividends of $1.57 per share for 2013. This represents a 16% increase over KMI's 2012 budget target of $1.35 per share and a 12% increase over the $1.40 per share of dividends it expects to declare for 2012. Growth at KMI 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. KMP expects to declare cash distributions of $5.28 per unit for 2013, a 6% increase over its 2012 budget target of $4.98 per unit, which it expects to meet. KMP's 2013 budget projection includes the expected purchase of 50% of El Paso Natural Gas Pipeline and a 50% stake in midstream assets from KMI, which would give KMP 100 percent ownership of these assets. | |
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News For KMI From The Last 14 Days Check below for free stories on KMI the last two weeks. |
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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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