Kinder Morgan increases quarterly dividend to $0.45 per share
Article continues below
This represents a 10 percent increase over the fourth quarter 2013 dividend of $0.41 per share ($1.64 annualized) and is up from $0.44 per share ($1.76 annualized) for the third quarter of 2014.
Distributable cash flow per share before certain items was $0.60 compared to $0.46 for the fourth quarter last year.
Distributable cash flow per share before certain items was $0.60 compared to $0.46 for the fourth quarter last year. Fourth quarter net income before certain items was $664 million compared to $640 million for the same period in 2013. Net income was $566 million compared to $704 million for the fourth quarter last year.
Certain items after tax in the fourth quarter totaled a net loss of $98 million compared to a net gain of $64 million for the same period last year, primarily due to a $235 million non-cash, pre-tax impairment charge on one of the company’s oil and gas properties, partially offset by a nonrecurring tax benefit.
For the full year, KMI reported distributable cash flow before certain items of $2.618 billion.
Net income was $2.443 billion compared to $2.692 billion for the previous year, down primarily due to a $558 million gain recorded in 2013 related to the re-measurement of the company’s original 50 percent interest in the Eagle Ford joint venture to fair market value. ■