Kinder Morgans Boost Their Dividends
The tightly-linked entities Kinder Morgan and Kinder Morgan Energy Partners are joining forces to make their share and unit holders richer. Both have boosted their dividends, with Kinder Morgan declaring a $0.40 per share distribution, and Energy Partners announcing a per-unit payout of $1.32. Both will be paid to share/unit holders of record as of July 31; the payment date for Kinder Morgan is August 15, while Energy Partners investors will receive their money one day earlier.
Kinder Morgan's $0.40 per share payout is $0.02, or 5%, higher than its previous quarterly disbursement of $0.38. Energy Partners' $1.32 is also $0.02 higher than its preceding dividend ($1.30); in percentage terms, the increase is 2%.
The former's new payout annualizes to $1.60 per share. That yields 4% at the stock's most recent closing price of $39.58. For Energy Partners, those figures are $5.28, 6.1%, and $86.73, respectively.
The article Kinder Morgans Boost Their Dividends originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Kinder Morgan. The Motley Fool owns shares of Kinder Morgan. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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