Kinder Morgans Raise Distributions
Kinder Morgan and its master limited partnership sibling Kinder Morgan Energy Partners are both putting a few more coins in the pockets of their share- and unitholders. The former has declared a quarterly dividend of $0.41 per share, to be paid on November 15 to shareholders of record as of October 31. That amount is $0.01, or 2.5%, higher than the firm's previous payout of $0.40 dispensed in August.
Energy Partners, meanwhile, declared a distribution of $1.35 per unit, payable on November 14 to holders of record as of October 31. This is $0.03, or 2.3%, higher than the preceding distribution of $1.32 handed out in August.
Kinder Morgan's new dividend annualizes to $1.64 per share, yielding 4.6% at the stock's most recent closing price of $35.62. Those numbers for Energy Partners are $5.40, 6.7%, and $80.14, respectively.
The article Kinder Morgans Raise Distributions originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and 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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