Kinder Morgan Inc (KMI) announced a 2.3% increase in its cash dividend. The quarterly cash dividend will increase from $0.43 to $0.44 per share and payable on Nov 17, 2014 to shareholders on record as of Oct 31, 2014. The amount represents an increase of 7 percent from a year ago. The annual dividend rate goes up from $1.72 to $1.76.
Kinder Morgan reported that the cash available to pay dividends rose from $424M a year ago to $435M this period. The company remains on track to meet or exceed its published annual budget of $1.78B in cash available to pay dividends.
My portfolio consists of 100 shares of KMI, which increases my annual dividends from $172.00 to $176.00.