Kinder Morgan Energy Partners Expects to Increase Quarterly Distribution Next Week to $1.02 Per Unit
HOUSTON--(BUSINESS WIRE)-- Kinder Morgan Energy Partners, L.P. (NYSE:KMP) today announced it expects to increase its quarterly cash distribution per common unit next week to $1.02 ($4.08 annualized) from $0.99 ($3.96 annualized). This will represent an increase of 16 percent over the third quarter 2007 quarterly distribution of $0.88 ($3.52 annualized). "While no company is 100 percent immune to external conditions, KMP continues to demonstrate that our diversified portfolio of stable assets is capable of generating consistently strong cash flow even in extremely difficult market conditions," said Chairman and CEO Richard D. Kinder. Kinder Morgan Management, LLC also expects to increase its quarterly distribution per unit to $1.02 ($4.08 annualized). The distribution will be paid in the form of additional KMR shares. Both KMP and KMR distributions will be payable on Nov. 14, 2008, to unitholders and shareholders of record as of Oct. 31, 2008. The company will announce its third quarter earnings at close of market on Wednesday, Oct. 15. Kinder Morgan Energy Partners, L.P. (NYSE:KMP) is a leading pipeline transportation and energy storage company in North America. KMP owns an interest in or operates more than 25,000 miles of pipelines and 165 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke. KMP is also the leading provider of CO2 for enhanced oil recovery projects in North America. The general partner of KMP is owned by Knight Inc. (formerly Kinder Morgan, Inc.), a private company.
$USD 329.00
$USD 329.00
$USD 329.00
